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This is done in an attempt to reduce the reporting requirements to a restricted appraisal report.
Further, the Summary Appraisal Report is renamed Appraisal Report and the Restricted Use Appraisal Report is renamed Restricted Appraisal Report.
Action required: For 2014, appraisers need to update reporting software and templates to identify reports as Appraisal Report or Restricted Appraisal Report.
The Restricted Appraisal Report is intended for use only by the client.
Note that the Restricted Appraisal Report format has been excluded from this table.
The Appraisal Standards Board advises that a Restricted Appraisal Report format is intended only in those few situations where only the client and no one else is expected to receive and rely on the report.
Complete appraisals, Limited appraisals and Evaluations, and Self-Contained, Summary, and Restricted appraisal reports - what does it all mean?
Both levels of appraisal can be reported in one of three types of written reports, Self-Contained, Summary, or Restricted Appraisal Reports.
The USPAP provides for a "complete appraisal" and a "limited appraisal," either of which may be completed as a self-contained, summary, or restricted appraisal report.
Successful completion of appraisal reports, restricted appraisal reports and due diligence data searches for acquisition, disposition, leases and data analysis.
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