Types of Appraisals

The Uniform Standards of Professional Appraisal Practice (USPAP), which are the state license law requirements for appraisers, governs the types of reports which appraisers can complete. The two types of appraisal reports are explained below:

  • Appraisal Report
    This is a narrative or form report developed with content consistent with the intended use of the appraisal.  This report at a minimum summarizes the information analyzed, valuation methods and techniques employed and reasoning that supports the opinions and conclusions of the appraiser(s).

  • Restricted Appraisal Report
    This is an abbreviated report.  The report is usually a brief letter with no supporting data included.  Opinions and conclusions stated in the report must be supported by data and analysis in the appraiser’s work file.

More information about appraisals: