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The level of detail and analysis of a commercial appraisal differs significantly from a residential single-family home appraisal. A typical commercial appraisal is an in-depth narrative report ranging anywhere from 60 to 100 pages or more. There are two report formats currently sanctioned by USPAP. The Restricted Appraisal Report and the Appraisal Report. The essential difference between the two options is in the content and level of information provided. A Restricted Appraisal Report is only appropriate when there is one intended user who is the client. When the intended users include parties other than the client, the more detailed Appraisal Report format must be utilized. The purpose of the appraisal will often determine which report format is appropriate. In the case of Estate Settlement/Probate, only the Appraisal Report format is offered. Please contact me to discuss which format is best for your needs.
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For What It's Worth
My Appraisal Reports (formerly known as a Summary Appraisal) features detailed site and building improvements, sketches, sales history & ownership, zoning information, regional and market area descriptions, flood plain analysis, age/life analysis, market analysis, published surveys, broker interviews, highest & best determination, valuation analysis, rent and sale comparables, expense comparables, cap rate comparables, adjustment grids and more.
My Restricted Appraisal Report is typically narrative based and can be 10 to 30 pages in length. The use of a Restricted Appraisal is limited to the exclusive use of the client who is also the sole intended user. The reader of this type of appraisal report is cautioned that the rationale for how the appraiser arrived at the opinions and conclusions set forth in the report may not be understood properly without additional information retained in the appraiser’s work file.