USPAP 2008–2009
In developing a real property appraisal consulting assignment, an appraiser must identify the problem to be solved, determine the scope of work necessary to solve the problem, and correctly complete the research and analyses necessary to produce credible results.
Comment: Real property appraisal consulting assignments encompass a wide variety of problems to be solved. However, the purpose of an assignment under this STANDARD is always to develop, without advocacy, an analysis, recommendation, or opinion where at least one opinion of value is a component of the analysis leading to the assignment results.
In some assignments, the opinion of value may originate from a source other than the consulting appraiser. In other assignments, the consulting appraiser may have to develop the opinion of value as a step in the analyses leading to the assignment results.
An opinion of value or an opinion as to the quality of another appraiser’s work cannot be the purpose of an appraisal consulting assignment. Developing an assignment for those purposes is an appraisal or an appraisal review assignment, respectively. Misrepresenting the purpose of an assignment performed under this STANDARD is a violation of the ETHICS RULE.
The ETHICS and COMPETENCY RULES apply to the appraiser performing an appraisal consulting assignment. Appraisers practicing under this STANDARD must perform the assignment with impartiality, objectivity, independence, and without accommodation of personal interests.
Except when required by law, regulation, agreement, or choice, this appraisal consulting STANDARD does not apply to services provided by an appraiser acting under the standards of other professions or business activities. For example, when an appraiser who is also an investment consultant provides a service that does not require an opinion of value, that appraiser, acting as an investment consultant, is not performing an assignment addressed by this STANDARD.
USPAP 2008–2009 Edition
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