Summary Or Restricted Use For Reviews

[Anthony Blackburn]

With regards to desk and field reviews, would these be Summary Appraisal Report, or a Restricted Use Appraisal Report?

Keeping in mind that when doing a review, you are using the original appraisal and the reviewer is not required to replicate the steps completed by the original appraiser. Those items in the work under review that the reviewer concludes are credible and in compliance with the applicable development standard are extended to the reviewer’s value opinion development process on the basis of an extraordinary assumption by the reviewer.

That being said, is an appraisal review assignment a summary report or a restricted use report?

 

[Farm Gal]

Anthony:

I make all of mine Restricted Use...

Among other things I don't care to go through the gyrations of attaching the rviewed report to MY report so "the report cannot be properly understood without additional information" found in MY workfile and to which the cleint (SOLE intended user) is privy.

The intended use is generally cleint specific also.

Might also limit potential damages if some dim-bulb client shares the information outside the office:

so-and so appraiser said such and such did abad report... even if factual it might keep the crosfire to a minimum. yeah oranges and pears but still!

 

[Nancy Wyatt]

The reviewer may include his or her own value opinion within the appraisal review report itself without preparing a separate appraisal report. However, data and analyses provided by the reviewer to support a different value conclusion must match, at a minimum, the reporting requirements for a Summary Appraisal Report for a real property appraisal (SR 2-2(B)) and a personal property appraisal (SR 8-2(B)), an appraisal consulting report for real property appraisal consulting (SR 5-2), a mass appraisal report for mass appraisal (SR 6-7), and an appraisal report for business appraisal (SR 10-2(a)).

I got this one wrong on my test.