How must an appraiser handle the newly acquired knowledge about a property’s previous appraisal?

The appropriate handling of previously acquired knowledge about a property’s past appraisal is crucial to maintaining the integrity and professionalism of the appraisal process. Disclosing this information appropriately ensures transparency and demonstrates the appraiser's commitment to ethical standards.

When an appraiser encounters past appraisals, they have an obligation to disclose this knowledge to clients and relevant stakeholders, as it can influence the understanding of the property’s market value and other critical aspects. This transparency helps build trust and supports the validity of the current appraisal while also adhering to professional guidelines and regulations.

Using the past appraisal to influence the current appraisal without full disclosure or adjusting one's approach can lead to ethical dilemmas and potential conflicts of interest, whereas ignoring it altogether could result in incomplete analysis and failure to consider relevant factors. Proper disclosure allows for a thorough and fair evaluation without compromising the appraiser's impartiality or professional standards.