What are the appraiser's responsibilities regarding a property inherited 32 months prior to the appraisal date?

The appraiser's responsibilities regarding an inherited property include analyzing the prior transfer and summarizing findings. This is critical because the transfer of ownership can have implications for the property's current value, condition, and marketability. The appraiser needs to assess how the inheritance may have influenced the property, including any emotional or market considerations that could affect its appraised value.

Understanding the property's history, including secure documentation of how it was transferred and identifying any legal or financial ramifications related to the inheritance, allows the appraiser to provide a more thorough analysis. Summarizing these findings helps ensure that stakeholders, including buyers or lenders, have a clear understanding of any factors that could potentially impact the appraisal.

Ignoring the prior transfer would miss essential context that could affect the appraisal. A mere statement of inheritance would be insufficient for a comprehensive appraisal process, as it lacks the depth and analysis necessary to fully inform the value. Similarly, requesting more details from the previous owner may not be necessary or feasible after such a length of time has passed, particularly when sufficient information can be derived from prior records and documents.