scope of appraisal

scope of appraisal

An explanation of the work done to complete an appraisal,including physical inspection of the site and comparable properties, industry research for standard ratios, operating incomes and expenses,and other such matters.

References in periodicals archive ?
Quantitative range of the order is within the scope of appraisal.
The concept of scope of work was in the original USPAP (then called the scope of appraisal in Standards Rule 2-2f), but it was not until 2006 that the Scope of Work Rule would replace the Departure Rule.
Along with the "Best Practices" statement, the Appraisal Institute is encouraging appraisers to communicate with their clients and engage in a dialogue regarding the scope of appraisal assignments and other matters.
The weakness of this particular example is that it basically represents a reiteration of the appraisal process, typically described elsewhere within the appraisal report; thus it is not necessary to incorporate it under the scope of appraisal heading.