Property Valuation
An appraiser in Virginia is required to report any pressure from a client to change a value conclusion. Under USPAP, this is called:
AValue reconsideration
BReporting a violation of the scope of work rule
CMaintaining independence and reporting undue influence✓ Correct
DAn ethical exception
Explanation
USPAP requires appraisers to maintain independence and avoid client pressure that could bias their value conclusion. Appraisers who face undue influence should document it and may need to report it.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
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