Commercial Appraisals - Types of Reports
Most of the commercial reports we do are narratives in format and are prepared in conformance with (1) the lastest edition of the Uniform Standards of Professional Appraisal Practicve (USPAP) of the Appraisal Foundation and (2) Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA). During the engagement process between you or your firm and W. R. McCain & Associates, each assignment is priced individually based upon such factors as the property use and size, report type, depth of analysis, etc.
Note: Each financial institution has their own specifications. If a bank is involved, the bank must order the appraisal report.
This is the most in-depth report. As such, it contains (describes) the information significant to the solution of the appraisal problem. The reader of this report should expect to find significant data reported in comprehensive detail.
Restricted Appraisal Report
Although all due diligence is required, this report contains (states) only a brief statement of information significant to the solution of the appraisal problem. Most/all of the supporting data and analysis utilized in the estimate of value has been retained in the appraisers' files. Consequently, the reader may not fully understand the report properly without the additional information in the workfiles of the appraisers. This client is the only intended user.