How short can a report be and still be USPAP compliant?

[masmia]

Depending on the specific clients needs I sometimes provide a restricted use appraisal report in letter format which basically consists of the letter of transmittal followed by the certification and statement of limiting conditions. Is this about as short as I can get while still being USPAP compliant? Thanks for your input.

 

[Mr Rex]

You must cover all the reporting requirements of Std 2, 11 items and the development requirements in Std 1.

 

[Mountain Man]

Our shortest restricted use is 10-15 pages.

 

[PropertyEconomics]

You must cover all the reporting requirements of Std 2, 11 items and the development requirements in Std 1.

I have done the same as Mr Rex has indicated above, and with legible size type, find that it takes a minimum of six to seven pages. I have seen those that say they have developed a restricted use report compliant with USPAP that was one page (front and back) however the type was very small.
I find the charts within USPAP showing the items which must be included in a compliant report for Self Contained, Summary and Restricted to be very useful in these instances.

 

[Caligirl]

Don't forget the workfile supporting your restricted use report needs to contain enough information to be able to produce a *summary* report.

FYI check out AO11 and AO12.

 

[Webbed Feet]

Depending on the specific clients needs I sometimes provide a restricted use appraisal report in letter format which basically consists of the letter of transmittal followed by the certification and statement of limiting conditions. Is this about as short as I can get while still being USPAP compliant? Thanks for your input.

Masmia,

And tell me, what are you going to do the day one of those clients demands a 100% complete copy of every little thing in your work file?

Webbed.

 

[Hal Mann]

Don't See Much Demand For This

It's surprising there's much demand for restricted-use appraisals. Have you found significant demand for that service in your market? And is that for commercial appraisals?

 

[PL1957]

It's surprising there's much demand for restricted-use appraisals. Have you found significant demand for that service in your market? And is that for commercial appraisals?

We are doing more and more restricted reports, usually for "non-traditional" valuation assignment for non-lending clients. Those are the people who don't want an appraisal, but want to know what the property is worth,

 

[Fred]

How short can a report be and still be USPAP compliant?

Depends on the font size.

Net of the assumptions and limiting conditions - maybe two pages, letter size, 12-point font.

 

[Fred]

It's surprising there's much demand for restricted-use appraisals.

Almost all of my reports are restricted use (one user). I just exceed the minimum reporting requirements by about 30 pages.