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USPAPMEDIUM18.2% of exam

An appraiser is competent to appraise single-family homes but receives an assignment to appraise a shopping center. To achieve competency, the appraiser could:

Correct Answer

A) Obtain assistance from someone competent in commercial appraisal

Before agreeing, disclose the commercial-property competency gap to the client. Association with or retention of someone with the necessary commercial expertise may be a way to complete competently; the appraiser remains responsible for the assignment and must explain the gap and steps in the report.

Answer Options
A
Obtain assistance from someone competent in commercial appraisal
B
Base the appraisal on automated valuation models
C
Use the same methods applied to residential properties
D
Limit the scope of work to exclude complex analyses

Why This Is the Correct Answer

Qualified commercial-appraisal assistance can help a residential specialist acquire the competence needed for a shopping-center assignment, with pre-agreement disclosure and full competent performance.

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