Mckissock USPAP Chapter 8
The appraiser must, at a minimum, state the appraisal's intended use in the appraisal report.
Rule for Record Keeping (Oral) - ANSThe workfile must contain summaries or transcripts of
any oral reports or testimony, as well as the appraiser's signed and dated certification.
Before any report can be issued, a workfile must be present. Within a reasonable time after
the oral report is issued, a written summary must be added to the workfile. An appraisal or
appraisal review report is any written or oral communication sent to the client following the
completion of an assignment. Standard 2 States... - ANSIn 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 - ANSEach written real estate appraisal report must be prepared using
one of the following options, and it must clearly state which option is used: Appraisal Report
or Restricted Appraisal Report. Standard Rule 2-4 - ANSTo 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).
Requirements for Standard Rule Reporting - ANSEvery written or oral report on real estate
appraisals 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
Requirement for sufficient information - ANSThe appraiser is not required to include
sufficient information so that the report can be understood by anyone other than the intended
users. ANS-Summarize sufficient information to identify the real estate involved in the
appraisal, including the physical, legal, and economic property characteristics relevant to the
assignment. This is the minimum requirement for the content of an appraisal report. -state
the real property interest appraised.
-describe the type of value as well as its definition, citing the definition's source. -state the
effective date of the appraisal and the date of the report.
-Summarize the scope of work that was used to create the evaluation. -summarize 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.
-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;
-when an opinion of highest and best use was developed by the appraiser, summarize the
support and rationale for that opinion;
The content of an Appraisal Report must, at a minimum: - ANSstate the identity of the client
and any intended users, by name or type
An appraisal report's content must, at a minimum, include the following: - ANS Clearly and
prominently: state all extraordinary assumptions and hypothetical conditions; and
The appraiser must, at a minimum, state the appraisal's intended use in the appraisal report.
Rule for Record Keeping (Oral) - ANSThe workfile must contain summaries or transcripts of
any oral reports or testimony, as well as the appraiser's signed and dated certification.
Before any report can be issued, a workfile must be present. Within a reasonable time after
the oral report is issued, a written summary must be added to the workfile. An appraisal or
appraisal review report is any written or oral communication sent to the client following the
completion of an assignment. Standard 2 States... - ANSIn 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 - ANSEach written real estate appraisal report must be prepared using
one of the following options, and it must clearly state which option is used: Appraisal Report
or Restricted Appraisal Report. Standard Rule 2-4 - ANSTo 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).
Requirements for Standard Rule Reporting - ANSEvery written or oral report on real estate
appraisals 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
Requirement for sufficient information - ANSThe appraiser is not required to include
sufficient information so that the report can be understood by anyone other than the intended
users. ANS-Summarize sufficient information to identify the real estate involved in the
appraisal, including the physical, legal, and economic property characteristics relevant to the
assignment. This is the minimum requirement for the content of an appraisal report. -state
the real property interest appraised.
-describe the type of value as well as its definition, citing the definition's source. -state the
effective date of the appraisal and the date of the report.
-Summarize the scope of work that was used to create the evaluation. -summarize 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.
-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;
-when an opinion of highest and best use was developed by the appraiser, summarize the
support and rationale for that opinion;
The content of an Appraisal Report must, at a minimum: - ANSstate the identity of the client
and any intended users, by name or type
An appraisal report's content must, at a minimum, include the following: - ANS Clearly and
prominently: state all extraordinary assumptions and hypothetical conditions; and
