The Appraisal Standards Board (ASB) writes Advisory Opinions (AO) to illustrate the applicability of appraisal standards in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems. Here is AO-20 on appraisal review assignments that include the reviewer’s own opinion of value.
“A client may want an appraiser, functioning as a reviewer, to develop and report his or her own opinion of value (i.e., an appraisal) within an appraisal review assignment. This leads to two questions:
How does the reviewer’s scope of work change when the purpose of an appraisal review assignment requires the reviewer to develop and report his or her own opinion of value?
What language in appraisal review reports indicates when the reviewer did or did not develop his or her own opinion of value?”
The Appraisal Standards Board has written an Advisory Opinion on how to deal with these questions. You can view it here AO-20 An Appraisal Review Assignment That Includes the Reviewer’s Own Opinion of Value