summary appraisal report

summary appraisal report

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

References in periodicals archive ?
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.
It is a fully compliant with the Uniform Standards of Professional Appraisal Practice (USPAP) summary 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.
Based upon an independent summary appraisal report, IMMI has assets with a market value of approximately $11 million consisting of real estate and equipment.
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.
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).