What must appraisers do if they are to appraise properties with which they have a personal interest?

When appraisers have a personal interest in a property, it is essential that they disclose this interest to their client. This disclosure is critical because it helps maintain transparency and integrity in the appraisal process. The appraisal profession adheres to strict ethical standards that require appraisers to avoid conflicts of interest. By informing clients about any personal stake in a property, appraisers allow for informed decision-making and uphold trust in their professional judgment.

Failing to disclose such an interest can undermine the objectivity of the appraisal and could lead to various legal or ethical complications. Clients deserve to know any factors that could influence an appraiser's perspective, which is why full disclosure is a cornerstone of ethical appraisal practice.