ADVISORY OPINIONS
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: Appraising the Same Property for a New Client
APPLICATION: Real Property, Personal Property, and Intangible Property
THE ISSUE:
Situations often arise in which appraisers who have previously appraised a property are asked by a different party to appraise the same property. In some instances this request arises very soon after the first appraisal; in others, it may be months or years later. Under what circumstances can an appraiser accept an assignment to appraise a property for a prospective client when that appraiser has previously completed an appraisal of the same property for another client?
ADVICE FROM THE ASB ON THE ISSUE:
Relevant USPAP & Advisory References
USPAP 2008–2009 Edition
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