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Reports

Self-Contained Reports

  1. State the identity of the client and any intended users, by name or type.
  2. State the intended use of the appraisal.
  3. Describe information sufficient to identify the real estate involved in the appraisal, including the physical and economic property characteristics relevant to the assignment.
  4. State the real property interest appraised.
  5. State the type and definition of value and cite the source of the definition.
  6. State the effective date of the appraisal and the date of the report.
  7. Describe the scope of work used to develop the appraisal.
  8. Describe the information analyzed, the appraisal methods and techniques employed, and the reasoning that supports the analyses, opinions, and conclusions; exclusion of the sales comparison approach, cost approach, or income approach must be explained.
  9. State the use of the real estate existing as of the date of value and the use of the real estate reflected in the appraisal; and, when an opinion of highest and best use was developed by the appraiser, describe the support and rationale for that opinion.
  10. Clearly and conspicuously:
    • State all extraordinary assumptions and hypothetical conditions; and
    • State that their use might have affected the assignment results; and
  11. Include a signed certification in accordance with Standards Rule 2-3.
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