Real Estate Appraisal Checklist (Page 4 of 5) in pdf

Real Estate Appraisal Checklist Page 4

Real Estate Appraisal Checklist

Is the definition of Market Value correctly based on the definition

that is found in 12CFR 34.42(f)?

Did the appraiser analyze any current Agreement of Sale, option or

listing of the property that is being appraised, including any impact

on his value estimate instead of just reporting the data?

Did the appraiser analyze any Agreement of Sale, option or listing of

the property being appraised during the last three years, including

any impact on his value estimate instead of just reporting the data?

If the property is an income producing investment property in

whole or in part did the appraiser analyze and report data on the

current lease revenues, vacancies, absorption, expenses and

capitalization or discount rates?

Does the Appraisal Report reflect current market conditions?

Does the report analyze and report appropriate deductions and

discounts for proposed construction or renovation, partially leased

buildings, non-market lease terms, and tract developments with

unsold units?

Does the report contain a certification in compliance with USPAP

Standard 2 that includes a statement that the assignment was not

contingent on a specific value or loan approval?

Does the report contain sufficient supporting documentation to

indicate the reasonableness of the conclusions that were

developed?

Does the report contain a legal description that was taken from a

conveyance document or title commitment?

Does the report include a separate breakdown of the value

between the value attributable to the (1) Land and Improvements,

(2) Personal Property, Equipment or Fixtures, (3) Business

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Real Estate Appraisal Checklist Page 4