Property Valuation
Vermont's 'appraisal scope of work' under USPAP means the appraiser must:
AAlways use all three approaches to value
BIdentify and perform the type and extent of research and analysis necessary to produce credible assignment results✓ Correct
CComplete the appraisal within 24 hours
DVisit the property for at least 2 hours
Explanation
USPAP's scope of work rule requires appraisers to identify the problem to be solved and determine the type and extent of research and analysis necessary to produce a credible appraisal, then perform that scope — no more, no less.
Related Vermont Property Valuation Questions
- Vermont's 'interim use' in highest and best use analysis refers to:
- Vermont's economic base analysis for real estate investment examines:
- The income approach to value is most commonly used to appraise:
- Vermont's 'as-improved' value differs from 'as-vacant' value because:
- A Vermont property recently appraised for $400,000. The tax assessor values it at $360,000. The 'assessment ratio' is:
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- The principle of conformity in Vermont real estate holds that:
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