Question

Jamal receives an appraisal assignment from a lending institution. What should NOT be a consideration for Jamal when he determines the scope of work for the appraisal development process?

a. The intended use of the appraisal
b. The definition of value required
c. The report form the client has requested
d. The physical and economic characteristics of the property

Answer 1

Jamal should consider the intended use, the definition of value, and the report form requested for the appraisal. However, he should not dismiss the physical and economic characteristics of the property, as these are essential for assessing its value.

Step-by-step explanation:

When Jamal receives an appraisal assignment from a lending institution, there are specific considerations he should account for in determining the scope of work for the appraisal development process. The considerations he should take into account include the intended use of the appraisal, the definition of value required, and the report form the client has requested. However, what should NOT be a consideration for Jamal is the physical and economic characteristics of the property, as these are essential aspects of any appraisal process and directly impact the determination of the property's value.