In appraisal terminology, what is the intended use of an appraisal report?
Correct Answer
B) The purpose for which the client and identified users will rely on the appraiser's opinions
Intended use refers to the purpose of the appraisal or appraisal report. It explains how the client and any identified intended users are expected to rely on the appraiser's opinions or conclusions.
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Previous Question
Appraiser Marcus Lee completed an appraisal with an in-person inspection on April 2. On April 5, a different client engages him for a new assignment on the same property with the same effective date, and Marcus decides a new inspection is unnecessary for credible results. Which statement is most accurate?
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After a mortgage appraisal is delivered, the lender asks appraiser Priya Shah to issue a corrected copy showing the borrower's full legal name. Priya determines the correction does not affect the problem to be solved or the scope of work. Under current USPAP guidance, which statement is best?