Sammartino & Stout: "When the Valuation Matters"

The Uniform Standards of Professional Appraisal Practice (USPAP) allows the appraiser and client to design the scope of the appraisal assignment for maximum flexibility in analysis and reporting options. The appraiser must be cautious however to maintain a level of credibility and analysis which will meet the test of peer review.

The reporting options are as follows:

Self Contained Report

A Self Contained Report will include full written detail as to the market, the subject property and all data used, as well as a detailed discussion leading to the value conclusion. This is the most detailed of the report types. The development of specific approaches to value will be defined in the scope of the appraisal and is dependent on the client’s needs and the property type.

Summary Report

If the client desires less detail as to the data reasoning and analysis, a Summary Report is appropriate. This report will include summarized (often-tabular) detail as to the data used. Like the Self Contained report the development of specific approaches to value will be defined in the scope of the appraisal and is dependent on the client’s needs and the property type.

This new version of USPAP allows the appraiser and client to design the scope of the appraisal assignment for maximum flexibility in analysis and reporting options. The appraiser must be cautious however to maintain a level of credibility and analysis which will meet the test of peer review.

Restricted Use can also be ordered, but only under very specialized circumstances.