Answers
Oct 20, 2016 - 07:48 AM
Revising the prior appraisal report from 7 months earlier to reflect the property's current condition instead of its condition at the time of inspection would be misleading and in violation of USPAP. If the client wants to engage the appraiser in a new assignment based on the current condition of the property, the appraiser may do so. However, as required by the ETHICS RULE in USPAP, the appraiser would have to disclose the previous appraisal had been performed.
Oct 24, 2016 - 05:36 AM
If the client is asking the appraiser to represent the improvements in a manner that is inconsistent with their condition as of the effective date, at a minimum the appraiser would be communicating a misleading appraisal report. There could potentially be additional violations, including requirements found in the ETHICS RULE.
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