Uniform Standards of Professional Appraisal Practice (USPAP) Practice Exam

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If a borrower receives a copy of an appraisal report due to disclosure requirements, what is true about that borrower?

  1. The borrower becomes an intended user

  2. The borrower does not become an intended user

  3. The borrower has rights to appeal the appraisal

  4. The borrower must request a re-evaluation

The correct answer is: The borrower does not become an intended user

When a borrower receives a copy of an appraisal report as a result of disclosure requirements, it does not automatically make the borrower an intended user of that appraisal. Intended users are specifically identified parties for whom the appraisal report is prepared and who are anticipated to rely on its conclusions. The primary purpose of disclosing the report to the borrower is often to fulfill legal or regulatory requirements rather than to indicate that the borrower was involved in the appraisal process or had a role in defining the appraisal's scope or intended use. While the borrower has the right to review the report, their receipt of it does not grant them the status of intended user, which is typically limited to the client who engaged the appraiser and other specified parties. It’s important to differentiate between the rights to access the appraisal and the responsibilities or implications of intended users. The borrower, therefore, simply receives information without the implications that come with being recognized as an intended user under appraisal standards.