What is a risk associated with not properly disclosing prior appraisals?

Not properly disclosing prior appraisals can indeed lead to potential legal consequences. This is primarily due to the obligation for appraisers to maintain integrity, transparency, and honesty in their work. Failure to disclose prior appraisals might be viewed as a form of misrepresentation, which can open the appraiser to litigation or disciplinary actions from regulatory bodies.

In the appraisal profession, full disclosure is critical in maintaining trust with clients and stakeholders. Not adhering to this principle may imply that the appraiser is hiding information which could influence the valuation outcome.

The other options, while relevant to the broader context of appraisal ethics, do not capture the legal ramifications as succinctly. Showing bias in valuation and creating conflicts of interest can certainly result from inadequate disclosure, but the foremost immediate risk that stands out is the potential for legal consequences. Thus, focusing on the importance of legal accountability emphasizes the necessity of complete transparency in appraisal practice.