USPAP 2008–2009
In USPAP, the Comment to Standards Rules 1-2(c) states (Standards Rule 7-2(c) also includes a similar Comment):
When developing an opinion of market value, the appraiser must also develop an opinion of reasonable exposure time linked to the value opinion.
The Comment to Standards Rules 2-2(a)(v), 2-2(b)(v), 8-2(a)(v), and 8-2(b)(v) states:
Stating the definition of value also requires any comments needed to clearly indicate to intended users how the definition is being applied.
How is the opinion of reasonable exposure time developed? Is it presumed to occur prior to or starting from the effective date of the appraisal?
USPAP 2008–2009 Edition
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