A certified appraiser is preparing a narrative report for a complex commercial property. The client requests that certain negative factors about the neighborhood be omitted from the report. How should the appraiser respond according to USPAP?
Correct Answer
D) Include relevant information needed for a nonmisleading report regardless of client preferences
Material adverse facts cannot be hidden to satisfy the client. The report must communicate the analysis without misleading its intended users; the issue is meaningful disclosure, not a blanket ban on addenda.
Why This Is the Correct Answer
Material adverse facts cannot be hidden to satisfy the client. The report must communicate the analysis without misleading its intended users; the issue is meaningful disclosure, not a blanket ban on addenda.
More USPAP Questions
An appraiser signs, finalizes and electronically transmits a residential appraisal report to the client on March 15. Its value opinion has a March 1 effective date. The client does not open the transmitted report until March 20. What is the report date?
The Dodd-Frank Act's appraisal provisions primarily focus on:
According to AQB criteria, what is the minimum number of classroom hours of qualifying education required for a Certified Residential appraiser?
In a Fannie Mae appraisal, which item does not belong in the appraiser's site analysis?
After delivering a $485,000 URAR, an appraiser discovers a previously undisclosed $15,000 seller repair credit on a comparable sale that may materially change the analysis. What is the most appropriate response?
The special appraisal requirements in Regulation Z §1026.35(c), adopted under Dodd-Frank, concern which covered mortgage category?
A state appraiser regulatory agency is reviewing an appraiser's continuing education compliance. The appraiser completed 28 hours of continuing education in the current two-year period, including 5 hours of USPAP update training. Does this meet AQB requirements?
According to USPAP Standard 2, which of the following is NOT a required element in an appraisal report?
A client asks an appraiser to raise a completed report’s value conclusion by $15,000 solely to match the contract price, without providing new evidence. What should the appraiser do?
A comparable-sale grid includes a $5,000 bathroom adjustment. Which treatment best supports clear appraisal reporting?
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