Property Valuation
In Virginia real estate appraisal, the 'scope of work' determination is made by the:
AClient alone
BAppraiser, based on the assignment conditions and USPAP requirements✓ Correct
CVREB's appraisal committee
DLender's underwriter
Explanation
Under USPAP, the appraiser is responsible for determining the appropriate scope of work — the type and extent of research and analysis — necessary to develop credible assignment results.
Related Virginia Property Valuation Questions
- In the income approach, the Gross Rent Multiplier (GRM) is calculated as:
- Which appraisal approach is most commonly used to value a single-family residence in a Virginia suburb?
- Which appraisal approach is typically most reliable for appraising a single-family home in Virginia's Richmond market?
- A Virginia appraiser is required to develop an opinion of value that reflects the:
- The income approach is most appropriate for which Virginia property type?
- When appraising a special-use property like a church in Virginia, the appraiser would most likely use which approach?
- Virginia's Northern Virginia market is characterized by which of the following that most affects residential property values?
- An appraiser in Virginia is required to report any pressure from a client to change a value conclusion. Under USPAP, this is called:
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