Property Valuation
In Virginia, a 'limited appraisal' under USPAP may be used when:
AThe client requests a lower fee
BSpecific departures from USPAP standards are authorized by the client and disclosed in the report✓ Correct
CThe property is vacant land
DThe appraisal is for non-lending purposes
Explanation
USPAP previously allowed limited appraisals with client-authorized departures. Current USPAP (2014 and beyond) no longer uses 'limited appraisal' but instead requires scope of work determination. Clients and appraisers define the scope.
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