What should an appraiser do if they encounter a conflict of interest during an assignment?

When an appraiser encounters a conflict of interest during an assignment, the appraiser must disclose it to all parties involved. This approach aligns with the principles of professional ethics and integrity that govern the appraisal profession. Disclosure ensures transparency and allows all parties to make informed decisions regarding the appraisal process and its results.

By highlighting the conflict of interest, the appraiser provides the relevant stakeholders with the opportunity to assess the situation and consider whether they still wish to proceed with the assignment under these circumstances. This practice not only upholds the ethical standards outlined in the Uniform Standards of Professional Appraisal Practice (USPAP) but also reinforces trust and accountability within the appraisal process.

Addressing the situation through disclosure prevents potential harm to both the appraiser and the parties involved, as it allows for appropriate actions to be taken to mitigate any negative impacts that may arise from the conflict of interest. Obtaining the necessary consent or deciding to withdraw from the assignment can be part of the resolution process after such disclosure has been made.