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COMPARISON OF REPORT TYPES*

SELF-CONTAINED

SUMMARY

RESTRICTED

Identify and describe the real estate being appraised

Identify and provide a description of the real estate to be appraised

Identify the real estate being appraised

State the real property interest being appraised

Same as self-contained

Same as self-contained

State the purpose and intended use of the appraisal

Same as self-contained

Same as self-contained

Define the value to be estimated

Same as self-contained

State and reference a definition of the value to be estimated

State the effective date of the appraisal and the date of the report

Same as self-contained

Same as self-contained

State the extent of the process of collecting, confirming, and reporting data

Summarize the extent of the process of collecting, confirming, and reporting data

Describe the extent of the process of collecting, confirming, and reporting data

State all assumptions and limiting conditions that affect the analyses, opinions, and conclusions

Same as self-contained

Same as self-contained

Describe the information considered, the appraisal procedures followed, and the reasoning that supports the analyses, opinions, and conclusions

Summarize the information considered, the appraisal procedures followed, and the reasoning that supports the analyses, opinions, and conclusions

State the appraisal procedures followed; state the value conclusion and reference the existence of specific file information in support of the conclusion

Describe the appraiser's opinion of the highest and best use of the real estate, when such an opinion is necessary and appropriate.

Summarize the appraiser's opinions of the highest and best use of the real estate, when such an opinion is necessary and appropriate.

State the appraiser's opinion of the highest and best use of the real estate, when such an opinion is necessary and appropriate

Explain and support the exclusion of any of the usual valuation approaches

Same as self-contained

State the exclusion of any of the usual valuation approaches

Describe any additional information that may be appropriate to show compliance with, or clearly identify and explain permitted departures from, the specific guidelines of [USPAP] Standard 1

Summarize any additional information that may be appropriate to show compliance with, or clearly identify and explain permitted departures from, the specific guidelines of [USPAP] Standard 1

Include a prominent use restriction that limits reliance on the report to the client and warns that the report cannot be understoood properly without additional information in the work file of the appraiser, and clearly identify and explain any permitted departures from the requirements of Standard 1

Include a signed certification in accordance with Standards Rule 2-3

Same as self-contained

Same as self-contained

Hettema Saba LLC
2050 Proctor Rd. Ste A
Sarasota, FL 34231

Phone: 941.926.0800
Fax: 941.926.2880
 
 
 
Hettema Saba LLC advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with federal, state and local laws. Copyright © 2011 Hettema Saba LLC.