Self-Contained Report
A self-contained report identifies and describes the property being appraised. Also it states the interest, purpose and intended use, the effective date, date of the report of the appraisal. Defines the estimated value. States the extent of collecting, confirming and reporting data, all assumptions and limiting conditions that affect the analyses, opinions, and conclusions. It describes the information considered, appraisal procedures followed, reasoning for supporting the analyses, opinions, conclusions, appraiser’s opinion of highest and best use (when appropriate). Explains and supports the exclusions of any usual valuation approaches. This report is meant to be all inclusive of available information and analysis.
Summary Report
A summary report identifies and provides a summary description of the property. States the purpose, intended use, defines the estimated value, effective date, due date of the appraisal. Summarizes the process of collection, conformation and reporting the data. States all assumptions and limiting conditions that affect the analyses, opinions and conclusions. Summarizes information considers in the appraisal process, reasons to support opinions, analyses and conclusions. The appraiser’s opinion of the highest and best use (when appropriate and necessary). Explains and supports the exclusions of usual valuations approaches. This report summarizes all pertinent information.
Restricted Report
A restricted report identifies the property and the interest in it. States the purpose and intended use, definitions of the value to be estimated. Shows effective date and use date. Describes the extent of the process of collecting, confirming, and reporting the data. States all assumptions and limiting conditions that affect the analyses, opinions and conclusions. States the process followed, value conclusion and reference the existence of specific file information in support of the conclusion, the appraiser’s opinion of the highest and best use (when necessary). The exclusion of any of the usual valuation approaches. Also including prominent use restriction that limits reliance on the report to the client and warns that the report cannot be understood properly without additional information in the work file of the appraiser. This report simply states factual information.
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