What must an appraiser do if a new client requests an appraisal on a property that has not changed since the last appraisal?

In the context of appraisal practice, when an appraiser receives a request for an appraisal on a property that has not changed since the last appraisal, the appraiser must prioritize the integrity and thoroughness of their work. Conducting a personal inspection is essential, even if the property itself has not undergone any modifications.

The requirement for a personal inspection stems from the need for the appraiser to verify the current condition and verify all relevant factors that can affect the property's value, which may not be fully captured through existing data or reports. Market conditions, neighborhood dynamics, and potential influences on the property could shift over time, and an inspection helps ensure that the appraiser takes into account any factors that may affect the appraisal.

Moreover, an inspection allows the appraiser to ascertain any changes that might not be immediately apparent through documentation alone. This adherence to best practices helps ensure that the appraisal remains reliable and valid. As such, while information from past appraisals can inform the process, an inspection affirms the appraiser's current understanding and mitigates any liabilities associated with outdated information.