Property Valuation
A West Virginia appraisal report states that the opinion of value is '$230,000 +/- $5,000.' Under USPAP, this is:
ANot acceptable — appraisals must be single-point values
BAcceptable as a range of values where the appraiser has uncertainty✓ Correct
COnly acceptable for government appraisals
DRequired in all appraisal reports to show the margin of error
Explanation
Under USPAP, an appraiser may express a value conclusion as a point, a range, or with a stated degree of precision. Expressing the value as '$230,000 +/- $5,000' (a range of $225,000 to $235,000) is permissible when the appraiser has stated rationale for the uncertainty.
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