USPAP Advisory Opinion 2 Guidance As outlined below, Uniform Standards of Professional Appraisal Practice (USPAP) Advisory Opinion Two (AO-2) states: There are many circumstances that influence the extent of the appraiser’s property inspection. The extent of the inspection process is an aspect of the Scope of Work and may vary based on assignment conditions and the intended use of the assignment results. It is the appraiser’s responsibility to determine the appropriate Scope of Work to produce credible assignment results given the intended use. Clients may request an exterior-only inspection from the street or no inspection of the subject property (desktop appraisal). There may be some situations where inspection of the subject property is not possible. The appraiser must have adequate information about the relevant characteristics of the subject property. When adequate information about the relevant characteristics is not available through personal inspection or from sources that the appraisers believes are reliable, in order to complete a credible report, given the intended use and user, the appraiser must either: Modify the assignment conditions to expand the scope of work to include gathering the necessary information, or Use extraordinary assumptions about such information, if credible assignment results can still be developed. All appraiser reports must contain sufficient information to enable the intended users to understand the extent of the inspection that was performed.
Posted on: Wed, 11 Sep 2013 16:31:11 +0000
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