Appraisal Formats

Appraisal Report

Appraisal Reports are our more detailed written report. Appraisal Reports are allowed to be relied upon by third parties and are usable for purposes such as Estate Tax where the IRS will need to rely upon it, mortgage underwriting where a FDIC Insured lending institution can rely upon it, or litigation where a court might need to rely upon it.

Restricted Appraisal Report

Restricted Appraisal Report Restricted Appraisal Reports have a less detailed write-up, which allows appraisers to offer more competitive pricing by reducing the time spent documenting our analysis. These reports are intended for reliance solely by the client unless a third party is explicitly named as an intended user in the final engagement letter.

This format may be suitable for third parties, such as the IRS, provided they accept the report. However, it is important to note that the IRS or any other named third party might determine that the report lacks sufficient detail and request a more comprehensive appraisal report. The point is that there is nothing that requires a named third party to accept a Restricted Appraisal Report. Ultimately, we leave the decision about report format to the client and their agents, based on their specific needs and circumstances.

it is quite appropriate for non-contentious estate matters as well as use by an owner of a property for ownership decision-making purposes.