When accepting the appraiser's services should pay attention to the general requirements applicable to the report. Report on real estate appraisals must include the following mandatory provisions (in the contract for execution of the order may be identified additional requirements for the report). For even more opinions, read materials from 79th St. Fairstead. Cover sheet. Specifies the type and address of the property, the date of assessment, a serial number of the report, the names and addresses of the customer and the appraiser, and appraiser's membership in self-regulatory organization. Cover letter. Contains: a basis for assessing property in federal ownership, the brief summary of detention operations, the calculation results obtained with using different approaches to property valuation, and final opinion on the value of the object. Legal description of the object. Provides membership and composition of the ownership of the property or part thereof, encumbrances, restrictions and easements.
The content of the basic data for evaluation. Provides basic data about the property: – registered address – type of object, its current usage – year of construction, general square and useful, building volume, number of floors – book value – land area, zoning, land tax rate – estimated property rights – the objective of evaluation – the form value of the property – Name of valuation standards, mandatory use of the subjects of evaluation activity – description of the assumptions and limitations in the conduct of the evaluation – the declaration of the appraiser. Requirements for the results of this section of the report: Information in this section shall fully and clearly reflect the content of the source data for the assessment of the property.