Financial

assumptions and limiting conditions

assumptions and limiting conditions

A recital of the assumptions on which an appraisal is based.These typically include matters such as:the appraisal is an accurate reflection of the value of the property, but only if there are no hidden defects, there are no boundary line problems, factual information obtained from others is correct,zoning allows the current or anticipated future use,and other such matters.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive
the report date; FIRREA/OCC compliance, if applicable; assumptions and limiting conditions; and if the value is "as-is," "stabilized," "liquidation," etc.
Buying it right: the due diligence review process
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