If an appraiser observes actual or suspected contamination, the appropriate action to take is to ________________.

Prepare for the McKissock Fair Housing, Fair Lending Test. Utilize flashcards and multiple-choice questions with detailed hints and explanations to ace your exam!

Multiple Choice

If an appraiser observes actual or suspected contamination, the appropriate action to take is to ________________.

Explanation:
When there’s actual or suspected contamination, the appraiser must inform the client and discuss the implications. This upholds the obligation to be transparent about conditions that can affect value and marketability, and it allows the client to decide on the appropriate next steps—such as ordering further testing, considering remediation, or adjusting the appraisal approach or value. Simply privately documenting the issue does not give the client the information they need to make informed decisions, discussing it later may delay crucial decisions, and taking no action would conceal a known or suspected hazard, which isn’t ethical or compliant with professional standards.

When there’s actual or suspected contamination, the appraiser must inform the client and discuss the implications. This upholds the obligation to be transparent about conditions that can affect value and marketability, and it allows the client to decide on the appropriate next steps—such as ordering further testing, considering remediation, or adjusting the appraisal approach or value. Simply privately documenting the issue does not give the client the information they need to make informed decisions, discussing it later may delay crucial decisions, and taking no action would conceal a known or suspected hazard, which isn’t ethical or compliant with professional standards.

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