§15.13 - Exposure Time and Marketing Time
| Jurisdiction | Washington |
§15.13 EXPOSURE TIME AND MARKETING TIME
In conjunction with an opinion of value, USPAP may require an opinion of reasonable exposure time. In addition, many financial institutions, operating under FIRREA guidelines, require an appraiser to opine on marketing time and provide support for the time estimate selected. These are related, but different, periods of time that may have an intricate relationship to the value estimate provided in the appraisal.
(1) Exposure time
Under USPAP, when it is relevant to the definition of value, the appraiser must also develop and report an opinion of reasonable exposure time linked to the value opinion. Exposure time is a retrospective estimate of the length of time the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale...
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