Answers
Nov 28, 2018 - 08:29 AM
USPAP does not specifically require an inspection for any assignment. However, appraisers are required to comply with applicable assignment conditions in order to comply with USPAP.
For example, the "typical" Fannie Mae/Freddie Mac appraisal report forms specify that the effective date of the appraisal is the date of inspection. Therefore, if such forms are being used in this case and no additional inspection is performed, the effective date for the new appraisal must be the previous inspection date.
For example, the "typical" Fannie Mae/Freddie Mac appraisal report forms specify that the effective date of the appraisal is the date of inspection. Therefore, if such forms are being used in this case and no additional inspection is performed, the effective date for the new appraisal must be the previous inspection date.
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