If an appraisal review assignment requires you to provide both current and past value conclusions, which statement is true?

The acceptance of an appraisal review assignment that requires both current and past value conclusions is valid if additional data for the current value is included. This recognizes the need for thorough analysis and justification of both values, acknowledging that variations in effective dates can be appropriate under specific conditions.

In commercial appraisal, it is not uncommon for an appraiser to reconcile values across different time periods. If sufficient and relevant data regarding the current value is provided, the appraiser can accurately determine and support the current value conclusion while also addressing the past value. This flexibility is essential in appraising property, as markets continuously evolve, and different effective dates for values are often necessary to truly reflect market conditions.

Other perspectives suggest limitations on accepting such assignments due to uniformity in effective dates or concerns about the quality of available information. However, a well-supported appraisal that accounts for the necessary data for the current market conditions can successfully fulfill the requirements of the assignment. Thus, the conclusion that the assignment is acceptable with the right supporting data is valid and aligns with standard appraisal practices.