Environmental
In West Virginia, an appraiser must address environmental contamination in an appraisal report by:
AIgnoring it since appraisers are not environmental professionals
BNoting the condition, its potential impact on value, and possibly making a value assumption about remediation status✓ Correct
CAutomatically deducting the remediation cost estimate from value
DDeclining the assignment if any environmental issues exist
Explanation
Under USPAP, appraisers must acknowledge environmental conditions that may affect value. The appraiser may value the property as-is (with contamination), assume cleanup is complete (with that assumption stated), or note the environmental issue and its potential impact on value.
Related West Virginia Environmental Questions
- Under West Virginia law, which activity requires a National Pollutant Discharge Elimination System (NPDES) permit from the WV DEP?
- Which federal law requires disclosure of known lead-based paint hazards in housing built before 1978?
- A methane gas migration problem may affect West Virginia properties near:
- Electromagnetic fields (EMFs) from high-voltage power lines near a West Virginia property are a potential concern because:
- West Virginia's coal ash ponds (impoundments) near power plants are regulated under:
- In West Virginia, an underground storage tank (UST) that has leaked petroleum products onto a property creates:
- West Virginia's coal slurry (coal preparation waste) has historically caused environmental issues. A real estate buyer near a slurry impoundment should investigate:
- In West Virginia, a seller's disclosure that a property has been tested for radon and the results showed levels above 4 pCi/L but no mitigation was installed gives the buyer the right to:
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