What does "appraisal independence" signify in property valuation?

Appraisal independence signifies that appraisers must conduct their evaluations without external pressures or influences, ensuring the objectivity and integrity of the valuation process. This principle is critical to maintain trust in the appraisal system, as it allows appraisers to arrive at conclusions based solely on the data and their professional judgment, rather than being swayed by interested parties, such as property sellers, buyers, or lenders.

By adhering to this principle, appraisers help safeguard the accuracy of property valuations, which are essential for various financial transactions and legal considerations. This independence directly supports the credibility of the appraisal process, as it establishes a framework where the opinions and assessments provided are viewed as impartial and reliable.