What must an appraiser disclose in a report based on an exterior-only inspection performed from the street?

What must an appraiser disclose in a report based on an exterior-only inspection performed from the street?

• A. The appraisal was done without viewing the property
• B. The specifics of the personal inspection performed
• C. A report from a third-party inspector
• D. Details about the property's zoning status

Answer: (B)

In a report based on an exterior-only inspection performed from the street, an appraiser is required to disclose the specifics of the personal inspection conducted. This disclosure is critical because it communicates to the client the nature of the inspection and the limitations that accompany an exterior-only evaluation. By detailing the scope of the inspection, the appraiser helps users of the report understand what was observed and what conclusions were drawn based on that limited view. This transparency is important for maintaining trust and credibility in the appraisal process, as it allows clients to assess the reliability and relevance of the findings in the context of the inspection limitations. Providing this specific information ensures that clients are fully informed about the degree of inspection undertaken and can make informed decisions based on that context. In cases of exterior-only inspections, this might include acknowledging that certain elements of the property, such as interior conditions or specific site features, were not evaluated, which directly influences the appraisal's conclusions and validity.

In a report based on an exterior-only inspection performed from the street, an appraiser is required to disclose the specifics of the personal inspection conducted. This disclosure is critical because it communicates to the client the nature of the inspection and the limitations that accompany an exterior-only evaluation.

By detailing the scope of the inspection, the appraiser helps users of the report understand what was observed and what conclusions were drawn based on that limited view. This transparency is important for maintaining trust and credibility in the appraisal process, as it allows clients to assess the reliability and relevance of the findings in the context of the inspection limitations.

Providing this specific information ensures that clients are fully informed about the degree of inspection undertaken and can make informed decisions based on that context. In cases of exterior-only inspections, this might include acknowledging that certain elements of the property, such as interior conditions or specific site features, were not evaluated, which directly influences the appraisal's conclusions and validity.