What should a reviewer do if they find that the data in an appraisal report is outdated or incorrect?

Providing feedback to the appraiser about the specifics is essential in addressing any issues with outdated or incorrect data in an appraisal report. This approach fosters communication and encourages the appraiser to reassess and enhance their report based on the feedback given.

Highlighting specific inaccuracies or outdated data not only helps the appraiser improve their work but also contributes to the overall quality and credibility of the appraisal process. By doing so, the reviewer plays a critical role in ensuring that the appraisal meets current standards and accurately reflects the property’s value, thereby upholding the integrity of the appraisal process.

In contrast, requesting a complete revision of the report may not be necessary at this stage, as constructive feedback can often lead to effective corrections without requiring a full overhaul. Documenting findings without engaging with the appraiser may result in missed opportunities for improvement and does not contribute to the collaborative nature of the appraisal profession. Utilizing outdated data, even if it complies with USPAP, is generally not advisable, as it may lead to inaccuracies in the value conclusion and diminish the reliability of the appraisal. Therefore, providing detailed feedback is the most effective and professional approach in this situation.