ADVISORY OPINION 22 (AO-22)

This communication by the Appraisal Standards Board (ASB) does not establish new standards or interpret existing standards. Advisory Opinions are issued to illustrate the applicability of appraisal standards in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems.

SUBJECT: Scope of Work in Market Value Appraisal Assignments, Real Property

APPLICATION: Real Property

THE ISSUE:

How does "market value" affect the scope of work in a real property appraisal assignment?

ADVICE FROM THE ASB ON THE ISSUE

Relevant USPAP & Advisory References

Scope of Work in a Market Value Appraisal

Sequence and Relationship of Action Steps Required by SR 1-2 in a Real Property Appraisal

General Comment on Market Value Definitions

How the "Conditions" in a Market Value Definition Affect the Scope-of-Work Decision

Subject's Marketing and Sale History, and Reconciliation

Summary

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