Question: 5. Lisa recently accepted an appraisal assignment. During the assignment she goes to the property and does an inspection of the neighborhood, property exterior, property
5. Lisa recently accepted an appraisal assignment. During the assignment she goes to the property and does an inspection of the neighborhood, property exterior, property interior and comparable properties from the street. During her trip to the property the homeowner says that she needs the property to appraise at $400,000. Which rule has been violated if Lisa appraises the property at $400,000?
a. Ethics Rule, she clearly listened to the homeowner
b. Competency Rule, she clearly should not have been given this assignment
c. Scope of work rule, she did fully investigate the market comparables
d. It is hard to say if she did or did not violate USPAP based on the information provided
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
