Appraisal Letter

[Lee Lansford]

NO​

...

However, WHAT YOU HAND THE CLIENT must be USPAP compliant. A cover letter WILL NOT SUFFICE (unless it contains all USPAP SR 2-1, 2-2 (c) and 2-3 requirements for a restricted use report! . That is tough to do unless you write real small!

Amen, amen! ! !

 

[George Hatch]

If there is any type of assignment that would frighten me out of "only" sending a minimal report, a vacant landlocked parcel would be it.

 

[DWiley]

If there is any type of assignment that would frighten me out of "only" sending a minimal report, a vacant landlocked parcel would be it.

Without knowing the intended use and intended user providing a minimal report sounds a bit scary to me as well.

What is the intended use and what type of intended user do you have? That is what should drive the report type.

 

[Mztk1]

Walter, the "cover letter" that you reference...what exactly is contained in this "letter" (aka, report of the appraisal)?

Whatever "it" might be, "it" would have to conform (assuming that the work is subject to the USPAP and that the intent is to communicate the appraisal as Restricted Use) with Std. Rule 2-2 (c).

Lee

Also 2-3 is needed, at a minimum any written communication on value, any appraisal, must have that signed ceritification included.

 

[hammergator]

Does anyone know if there is a sample letter to use as a template?

 

[PropertyEconomics]

That land form actually has a lot of USPAP deficiencies - no statement of intended use, no sales history, etc. Regardless of the format you pick, use the Chart in AO-12 to make sure you have all the required content.

The chart in AO-12 is INVALUABLE ... copy it and put it on your desk .. you will always know whats necessary to be USPAP compliant if you will simply do that ...

Good advice Danny.

 

[PropertyEconomics]

Does anyone know if there is a sample letter to use as a template?

NO .. make up your own using AO-12 .... you can do it I know you can. NO one said life would always be easy .. but its not hard.

 

[hammergator]

It is for a financial statement for an estate.

 

[PropertyEconomics]

It is for a financial statement for an estate.

Please explain this .....

 

[Mike Garrett RAA]

Three reporting options. A restricted use appraisal report could be a letter.