Study Flashcards
Someone who is expected to perform valuation services competently in a manner that is a partial an objective
Appraiser
Information, appraiser receipts from client and as identified by the client is confidential and he’s not available for any other source
Confidential information
The type in extent of research and analysis in an assignment
Scope of work

Necessary when the development of a value of opinion uncertain information of the effective date of an assignment results
Extraordinary assumption
Contrary what is known
Hypothetical condition
A party identified by the appraiser at the time of the assignment
Extended user
evaluation services performed by an individual person acting as an appraiser
Appraisal practice
Market rent is an example does not have to be total value of property
Appraisal example
Those appraiser to have expertise and competent in similar types of assignment
Appraisers peers
Any work completed as part of an appraisal or appraisal assignment
Appraisal review assignment
Appraisal standard board produces USPAP for
Users in appraisers recording to preamble
Valuation services
Real estate, brokerage, appraiser, reviews, automobile, dealerships
USPAP applies to an appraiser when
Assisting a client and setting a price for the property to sell
USPAP applies to all who when doing Appraisal practice
Appraiser
Only used if appraiser applies it or authorizes the use
Electronic signature
Appraiser advocating

Not permitted
Prior sales of the property should be
Analyze sales within a period prescribed in USPAP
States the appraiser must always promote and preserve public trust
Ethics rule
Appraiser must do before they engage in an assignment if they lack the knowledge experience to complete

First thing disclose to client
Appraiser must do before completing the assignment
You must always in every case, must have the necessary knowledge and experience to complete
The extended use of the appraisal is needed to
 Determine the appropriate scope of work
Who identifies a relevant characteristics of the property in an assignment?

Appraiser
Appraisal report must disclose
 Scope of work appraiser performed in all appraise assignment
When is scope of work appropriate?
Had to be credible assignment
Appraisal report must include
 A disclosure scope of work that the appraiser for performed in an assignment
Presume the balance of USPAP with compliance with a part of USPAP, Law and regulations
Jurisdictional, exception rule
An Appraiser must examine what for property with a proposed improvement
 Documentation that is sufficient to identify the extent and character proposed improvementS
Who Must always identify the purpose of the appraisal review
Reviewer
When Reviewer offers a different value
 Always summarize their additional information and reasoning in the report
What must be Summarized in mass appraisal report

Procedures for collecting validated and recording data
Level of trade
 Personal property
Identify all revalent and by sell an option agreement
Business interest
Approaches to value

Must be developed for credible assignment results
Who is responsible for the scope of work?

Appraiser
When was an appraiser develop an opinion of highest and best use
 Necessary for credible assignment results
Final step in Appraisal development
 Reconciliation
When is An Appraiser responsibility for the assignment and results of the contents?
 When they sign the certified report
appraisal report must contain
Sufficient information to enable intended, user to understand the report
If appraiser excludes any approaches to value, what must they do?
 They must state the reason for the exclusion in the report
The level of detail an appraisal report is always  determined by
Intended use an intended users
How do identify of intended users other than the client are to be communicated in the appraisal report and restricted report
 Appraisal report stated by name or type
 Restricted appraisal report only by name
Hypothetical condition
 You must clearly and dispicusley disclose it
Appraisal report must summarize
The Methods and techniques that were employed by the appraiser
