If an appraiser is asked to appraise a property with a known agreement of sale, what must happen to the agreement?

When an appraiser is tasked with appraising a property that has a known agreement of sale, the proper course of action is to analyze that agreement as part of the appraisal process. Analyzing the agreement provides valuable insights into the terms and conditions of the sale, including the sales price, contingencies, and any special conditions that might affect the property's value. This analysis allows the appraiser to incorporate current market data into their valuation, ensuring that the appraisal reflects the most reliable and up-to-date information.

By considering the agreement of sale, the appraiser can assess whether the contract price aligns with the market trends and property conditions. This analytical approach fosters a more accurate and credible appraisal, ultimately ensuring compliance with appraisal standards and enhancing the reliability of the appraisal report.