This class offers appraisers an overview of restricted and oral appraisal reports, as defined in the Uniform Standards of Professional Appraisal Practice (USPAP). You’ll learn what’s required in restricted and oral appraisal reports, when they may be appropriate, how they’re different from full appraisal reports, and the benefits and limitations of each.
You’ll also gain an understanding of the USPAP requirements of these reporting options and the responsibilities of the appraiser in providing accurate and reliable valuation results.
Upon completion of this course, participants will better understand the options available for reporting appraisal results and will have the knowledge and skills to produce restricted and oral appraisal reports when appropriate.
Learning Objectives:
- Define and distinguish between restricted and oral appraisal reports and full appraisal reports.
- Identify the situations where restricted and oral appraisal reports may be appropriate.
- Explain the characteristics and requirements of restricted and oral appraisal reports.
- Discuss the benefits and limitations of restricted and oral appraisal reports.
- Analyze the USPAP requirements related to restricted and oral appraisal reports.
- Produce a restricted or oral appraisal report in compliance with USPAP requirements.