Narrative Appraisal Form
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FAQ
The Uniform Standards of Professional Appraisal Practice set forth the requirements for appraisal reports, which may be presented in one of three written formats: self-contained reports, summary reports, and restricted-use reports.
Narrative reporting describes the non-financial information included in annual reports to provide a broad and meaningful picture of the company's business, its market position, strategy, performance and future prospects.
In addition to these two types of appraisals, there are three types of report formats: self-contained, summary, and restricted. Self-Contained Report. In this option, the appraiser provides all of the data and the rationale used in the development of the appraisal.
A self-contained in depth report of all factual materials techniques and appraisal methods used by the appraiser in setting forth his or her conclusion of value.
The Appraisal Process and How Values Are Determined A property's appraisal value is influenced by recent sales of similar properties and by current market trends. The home's amenities, the number of bedrooms and bathrooms, floor plan functionality, and square footage are also key factors in assessing the home's value.
There are three types of approaches to value and they are sales comparison approach, cost approach and income capitalization approach. The sales comparison approach is the most commonly used approach in real estate appraisal practice for determining the value.
Include examples of performance where appropriate; Be brief and specific; Avoid adjectives and adverbs that are not objective; Use clear, concise statements or bullets; Avoid writing in third person;
Real Estate Glossary Term. Narrative Report. A type of appraisal report thatprovides the most detailed analysis, as it allowsthe appraiser to comment fully on the opinionsand conclusions of the appraisal.
