West Virginia Mortgage Law Practice Test

According to West Virginia regulations pertaining to appraiser relations, which of the following would be a permissible comment to make to an appraiser?

1. "Are you sure this value is accurate? Would you consider revising it?"

2. "This property value is much lower than we expected - especially considering other values in the neighborhood. Can you explain how you came up with this?"

3. "This valuation seems high. Can you provide a lower estimate?"

4. "If you can't value this property higher, we may need to find another appraiser."

The correct answer is: "Are you sure this value is accurate? Would you consider revising it?"

The correct comment that aligns with West Virginia regulations regarding appraiser relations is the one that questions the accuracy of the value while maintaining professionalism and not implying any undue pressure or coercion. Engaging with an appraiser by respectfully asking whether they are certain about the accuracy of a value allows for a constructive conversation about their methodology and rationale without crossing ethical boundaries. This allows the dialogue to stay focused on the appraisal process and fosters transparency. In the other comments, there are elements that may lead to potential conflicts of interest or influence the appraiser's judgment improperly. For example, suggesting a revision to the value or indicating that a higher value is expected can suggest pressure to alter the appraisal. Similarly, stating the need to find another appraiser based on the value provided implies that the appraiser's integrity may be compromised if their findings do not align with expectations. Therefore, it is essential to communicate around appraisals with respect for the appraiser's professional judgment.