Uniform Standards of Professional Appraisal Practice (USPAP) Practice Exam

Question: 1 / 415

What must Anne do before disclosing the appraised value of a property to the owner?

Ask the owner for approval

Get consent from the lender

Before disclosing the appraised value of a property to the owner, it is essential for Anne to get consent from the lender. This requirement is rooted in the confidentiality principles embedded in the Uniform Standards of Professional Appraisal Practice (USPAP). The lender, often having commissioned the appraisal, retains rights regarding the dissemination of that information. Therefore, Anne must ensure that she has the appropriate permissions in place before sharing any appraised value, reflecting the importance of respecting lender-client confidentiality agreements.

In scenarios where there may be multiple involved parties, such as lenders, appraisers must be cautious in their communication about appraised values to maintain professional ethics and legal standards. This reinforces the broader framework of accountability and trust that governs appraisals and real estate transactions.

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Disclose it since she knows the owner

Verify the appraisal value is correct

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