Mckissock USPAP Chapter 8
In an Appraisal Report, the appraiser must, at a minimum: - ANS-state the intended use of the
appraisal.
Record Keeping rule (Oral) - ANS-The workfile must include... summaries of any oral reports or
testimony, or a transcript of testimony, including the appraiser's signed and dated certification...
A workfile must be in existence prior to the issuance of any report. A written summary of an oral
report must be added to the workfile within a reasonable time after the issuance of the oral
report.
Report - ANS-Any communication, written or oral, of an appraisal or appraisal review that is
transmitted to the client upon completion of an assignment.
Standard 2 States... - ANS-In reporting the results of a real property appraisal, an appraiser
must communicate each analysis, opinion, and conclusion in a manner that is not misleading.
Standard Rule 2-2 - ANS-Each written real property appraisal report must be prepared under
one of the following options and prominently state which option is used: Appraisal Report or
Restricted Appraisal Report.
Standard Rule 2-4 - ANS-To the extent that it is both possible and appropriate, an oral real
property appraisal report must address the substantive matters set forth in Standards Rule
2-2(a).
Standard Rule Reporting requirements - ANS-Each written or oral real property appraisal report
must:
(a) clearly and accurately set forth the appraisal in a manner that will not be misleading;
(b) contain sufficient information to enable the intended users of the appraisal to understand the
report properly; and
(c) clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical
conditions, and limiting conditions used in the assignment
Sufficient information Requirement - ANS-The appraiser is not required to include sufficient
information so that anyone other than intended users can understand the report.
The content of an Appraisal Report must, at a minimum: - ANS--summarize information
sufficient to identify the real estate involved in the appraisal, including the physical, legal, and
economic property characteristics relevant to the assignment.
-state the real property interest appraised.
-state the type and definition of value and cite the source of the definition.
-state the effective date of the appraisal and the date of the report.
-summarize the scope of work used to develop the appraisal.
In an Appraisal Report, the appraiser must, at a minimum: - ANS-state the intended use of the
appraisal.
Record Keeping rule (Oral) - ANS-The workfile must include... summaries of any oral reports or
testimony, or a transcript of testimony, including the appraiser's signed and dated certification...
A workfile must be in existence prior to the issuance of any report. A written summary of an oral
report must be added to the workfile within a reasonable time after the issuance of the oral
report.
Report - ANS-Any communication, written or oral, of an appraisal or appraisal review that is
transmitted to the client upon completion of an assignment.
Standard 2 States... - ANS-In reporting the results of a real property appraisal, an appraiser
must communicate each analysis, opinion, and conclusion in a manner that is not misleading.
Standard Rule 2-2 - ANS-Each written real property appraisal report must be prepared under
one of the following options and prominently state which option is used: Appraisal Report or
Restricted Appraisal Report.
Standard Rule 2-4 - ANS-To the extent that it is both possible and appropriate, an oral real
property appraisal report must address the substantive matters set forth in Standards Rule
2-2(a).
Standard Rule Reporting requirements - ANS-Each written or oral real property appraisal report
must:
(a) clearly and accurately set forth the appraisal in a manner that will not be misleading;
(b) contain sufficient information to enable the intended users of the appraisal to understand the
report properly; and
(c) clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical
conditions, and limiting conditions used in the assignment
Sufficient information Requirement - ANS-The appraiser is not required to include sufficient
information so that anyone other than intended users can understand the report.
The content of an Appraisal Report must, at a minimum: - ANS--summarize information
sufficient to identify the real estate involved in the appraisal, including the physical, legal, and
economic property characteristics relevant to the assignment.
-state the real property interest appraised.
-state the type and definition of value and cite the source of the definition.
-state the effective date of the appraisal and the date of the report.
-summarize the scope of work used to develop the appraisal.
