ADVISORY OPINIONS
The scope of work decision is a critical step in any appraisal. That decision must result in a match between the extent of the research and analyses completed in an assignment with the conditions specified in the definition of value used in that assignment.
In a market value appraisal, the appraiser’s scope of work decision carries a burden of proof to support the appraiser’s conclusion about how he or she addresses each “condition” in the market value definition used in the appraisal. The definition includes conditions that often require a high degree of knowledge, competency, and judgment, which are necessary to effectively develop the appraisal process. An appraiser cannot meet his or her obligations in a market value assignment without having competently identified and then completed a scope of work that enables development of credible opinions and conclusions.
USPAP 2008–2009 Edition
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