What is the appraiser's responsibility regarding environmental concerns on a site?

The appraiser's primary responsibility in relation to environmental concerns is to make note of conditions that may require further investigation. This involves observing the property and identifying any visible or known environmental issues that could potentially impact the value of the property. While the appraiser is not expected to be an environmental expert or conduct exhaustive testing for every possible environmental issue, they must be aware of common environmental risks that can affect property value, such as contamination or proximity to hazardous materials.

By documenting any concerns, the appraiser can ensure that clients are informed and that appropriate professionals can be engaged for a thorough assessment. This approach also aligns with the ethical standards of appraisal practice, where appraisers are expected to act as competent professionals, acknowledge their limitations, and refer matters beyond their expertise to qualified individuals when necessary.