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Report Options
In compliance with Standards Rule 10 of the Uniform Standards of Professional Appraisal Practice, effective July 1, 2006, as promulgated by The Appraisal Standards Board of The Appraisal Foundation, we provide two types of reports: an appraisal report and a restricted-use appraisal report.When the intended users include parties other than the client, an appraisal report must be provided. When the intended users do not include parties other than the client, a restricted-use appraisal report may be provided.
The essential difference between these options is in the content and level of information provided.
An appraisal report must, at a minimum,
1. State the identity of the client and any other intended users, by name or type;
2. State the intended use of the appraisal;
3. Summarize information sufficient to identify the business or intangible asset and the interest appraised;
4. State the extent to which the interest appraised contains elements of ownership control, including the basis for that determination;
5. State the extent to which the interest appraised lacks elements of marketability and/or liquidity, including the basis for that determination;
6. State the standard (type) and definition of value and the premise of value and cite the source of the definition;
7. State the effective date of the appraisal and the date of the report;
8. Summarize the scope of work used to develop the appraisal; and
9. Summarize the information analyzed, the appraisal procedures followed, and the reasoning that supports the analyses, opinions, and conclusions; exclusion of the market approach, asset-based (cost) approach, or income approach must be explained.
The requirements for a restricted-use appraisal report are the same, except that requirements 3, 8, and 9 substitute the word state for summarize.
Uniform Standards of Professional Appraisal Practice can be found at:
http://commerce.appraisalfoundation.org