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summary appraisal report

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summary appraisal report

A written appraisal report with a minimum of detail. Contrast with a self-contained appraisal report.



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The work of this committee has been completed and the first of these forms-the Residential Summary Appraisal Report for single-unit properties-has been published.
Based upon an independent summary appraisal report, IMMI has assets with a market value of approximately $11 million consisting of real estate and equipment.
The revised forms that became effective on November 1 for Fannie Mae [January 1, 2006 for Freddie Mac and FHA mortgages] make even more clear that the forms are designed primarily for mortgage lending, both by direct statements on the forms ("The purpose of this summary appraisal report is to provide the lender/client with an accurate and adequately supported opinion of the market value of the subject property") and in substantive information requested (or not requested) within the form.
 
 
 
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