Property Valuation
In West Virginia, an appraiser reviewing an appraisal performed by another appraiser is conducting a(n):
ADesk audit
BAppraisal review under USPAP Standards Rule 3✓ Correct
CField inspection
DScope of work determination
Explanation
Reviewing another appraiser's work product is governed by USPAP Standards Rule 3 (Appraisal Review). An appraiser performing a review must develop and report their own opinion about the quality of the work being reviewed.
Related West Virginia Property Valuation Questions
- In the cost approach to value, the appraiser estimates the value of land separately because:
- The 'band of investment' technique in West Virginia real estate is used to:
- In West Virginia, the income approach to value is MOST appropriate for:
- Interim use in West Virginia appraisal refers to a property's:
- The reproduction cost in the cost approach is defined as the cost to:
- A West Virginia appraiser is asked to estimate the value of a historic Charleston building. The cost approach may be less reliable because:
- An appraiser's final reconciliation of value in a West Virginia appraisal involves:
- The principle of conformity holds that property value is maximized when:
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