Tenders are invited for provide summary appraisal report
compliant with the uniform standards of professional appraisal practice (uspap) of the appraisal foundation and the code of professional ethics and standards of professional appraisal practice of the appraisal institute in the development of the appraisal report to estimate the current market value of tax map key (tmk) (3) 2-4-035:001.
6) In the Summary Appraisal Report
, there are three blank spaces and a large comment box where information concerning conditions of sale and after-sale expenditures can be discussed in narrative form.
Further, the Summary Appraisal Report
is renamed Appraisal Report and the Restricted Use Appraisal Report is renamed Restricted Appraisal Report.
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.
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.
2) Summary Appraisal Report
(USPAP Standards Rule 2-2b).
If there is more than one intended user, a Summary Appraisal Report
is the appropriate choice if brevity is required.
Some of my friends at Bank of America say they no longer use a complete summary appraisal report
and instead use the 2055 limited desktop underwriter appraisal.
Standards Rule 2-2(c) explains that a Restricted Report differs from a Self-Contained and a Summary Appraisal Report
in detail (less in a Restricted Report) and use restriction.
Second, the ASB states, "When reporting the results of an evaluation that includes a value conclusion, an appraiser would typically use the Summary Appraisal Report
format, as described in Standards Rule 2-2(b).