When the purpose of the assignment includes a requirement for the reviewer to develop his or her own opinion of value, the following apply:
the reviewer’s scope of work in developing his or her value opinion must not be less than the scope of work (Complete or Limited) applicable to the original appraisal assignment. However, the reviewer is not required to replicate the steps completed by the original appraiser. Those items in the work under review that the reviewer concludes are credible and in compliance with the applicable development standard (STANDARD 1 or 7) can be extended to the reviewer’s value opinion development process on the basis of an extraordinary assumption by the reviewer. Those items not deemed to be credible or in compliance must be replaced with information or analysis by the reviewer, developed in conformance with STANDARD 1 or 7 as applicable, to produce a credible value opinion.
the reviewer may use additional information available to him or her—either locally, regionally, or nationally—that was not available to the original appraiser in the development of his or her value opinion.