What should a reviewer assess regarding the original appraisal methodology?

Assessing the original appraisal methodology involves a careful examination of key factors that are critical for ensuring the appraisal's validity and reliability. Both alignment with local market conditions and adherence to USPAP (Uniform Standards of Professional Appraisal Practice) guidelines are essential components in this assessment.

Evaluating whether the methodology aligns with local market conditions ensures that the appraised property is being compared to relevant and accurate market data. This involves analyzing comparable sales, current market trends, and local economic indicators that could influence property values. If the original appraisal fails to consider these factors, it could result in an inaccurate valuation.

Additionally, following USPAP guidelines is crucial as these standards provide the necessary framework for ethical and professional conduct within the appraisal industry. USPAP outlines principles and practices that appraisers must follow to ensure that their work is credible and defensible. An appraisal that does not adhere to these guidelines risks being challenged or deemed unacceptable.

By assessing both aspects—local market alignment and compliance with USPAP—reviewers can better determine the reliability of the appraisal and ensure that it meets industry standards, providing a comprehensive basis for evaluating its overall quality. Therefore, recognizing the importance of both local market conditions and USPAP compliance makes the correct answer encompass both of these critical evaluation facets.