Property Valuation
Under USPAP, a Wisconsin appraiser who accepts an assignment with a predetermined conclusion ('bring it in at $X') is:
AFulfilling their client service duty
BViolating appraisal independence and USPAP ethics rules✓ Correct
CPermitted if the client requests it in writing
DRequired to comply with lender instructions
Explanation
USPAP's Ethics Rule prohibits appraisers from accepting assignments that require predetermined or biased conclusions; appraisal independence is fundamental to credible appraisal practice.
Related Wisconsin Property Valuation Questions
- The principle of progression in property valuation states that:
- In the sales comparison approach, a positive adjustment to a comparable sale means:
- The 'principle of contribution' in Wisconsin appraisal means:
- A Wisconsin broker preparing a BPO (Broker Price Opinion) should disclose that it is:
- Under Wisconsin law, a property owner who disagrees with their assessment may first appeal to the:
- An appraiser determines a Wisconsin property's value using the income approach. The property has an annual NOI of $45,000 and a cap rate of 9%. What is the indicated value?
- A Wisconsin appraiser's final value conclusion for a home is $285,000. The sales comparison approach indicated $282,000, the cost approach $290,000, and no income approach was used. This reconciliation gives greatest weight to:
- When appraising a Wisconsin property in a rural area where few sales have occurred, an appraiser may need to:
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