The party who engages an appraiser in a specific assignment is called the ______.

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Prepare for the McKissock Basic Appraisal Principles Test. Study with comprehensive flashcards and thorough multiple choice questions. Each question offers hints and detailed explanations to enhance your readiness for the certification exam!

Multiple Choice

The party who engages an appraiser in a specific assignment is called the ______.

Explanation:
The party who hires an appraiser and controls the assignment is the client. This person or entity sets the scope of work, directs the engagement, and typically pays for the appraisal. The customer is the party who receives the appraisal service but did not hire or control the engagement. For example, when a lender hires an appraiser to value a property, the lender is the client and the borrower is the customer. Employer or principal aren’t the standard terms used to describe who engages the appraiser in a specific assignment.

The party who hires an appraiser and controls the assignment is the client. This person or entity sets the scope of work, directs the engagement, and typically pays for the appraisal. The customer is the party who receives the appraisal service but did not hire or control the engagement. For example, when a lender hires an appraiser to value a property, the lender is the client and the borrower is the customer. Employer or principal aren’t the standard terms used to describe who engages the appraiser in a specific assignment.

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