Midland Appraisal Associates, Inc.

REPORT FORMATS
 

The Uniform Standards of Professional Appraisal Practice (USPAP) define three reporting formats - Self-Contained, Summary, and Restricted Use.
Self-Contained Appraisal Report
A Self-Contained Appraisal Report fully describes the data and analyses used in the assignment.  All appropriate information is contained within the report and not referenced to the appraiser's files.  A Self-Contained Appraisal Report contains information sufficient to identify the real estate involved in the appraisal, including the physical and economic characteristics relevant to the assignment.  The Self-Contained Appraisal Report includes a description of the information analyzed, the appraisal procedures followed, and the reasoning that supports the analyses, opinions and conclusions.
Summary Appraisal Report
A Summary Appraisal Report is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice (USPAP) for a Summary Appraisal Report.  As such, it presents only summary discussions of the data, reasoning and analyses that were used in the appraisal process to develop the appraiser's opinion of value.  Supporting documentation concerning the data, reasoning and analyses not included in the report is retained in the appraiser's file.  The depth of discussion contained in this report is specific to the needs of the client and for the intended use stated herein.
Restricted Use Appraisal Report
A Restricted Use Appraisal Report is an appraisal prepared under Standards Rule 2-2 (c) of an appraisal performed under Standard 1 of the Uniform Standards of Professional Appraisal Practice.  A Restricted Use Appraisal Report contains statements of the appraiser's findings without explanation of data, reasoning or analyses that were used to develop the opinion of value.  All of the supporting data, reasoning and analyses in support of the appraiser's finding are retained in the appraiser's work file.
A Restricted Use Appraisal Report is appropriate when the client is the only intended user and the intended use warrants restricted disclosure of the data, reasoning and analyses used to develop the opinion of value.
A Restricted Use Appraisal Report is not appropriate when the client is not the only intended user or the intended use calls for level of detail that is not provided within the frame work of a Restricted Use Appraisal Report.