This report is the more expensive type of commercial appraisal. This has more detail than the Restricted Appraisal Report. If you are using the appraisal to obtain financing for the purchase or refinance of a commercial property, then this is most likely the report for you. The Appraisal Report format is by far the most widely used of all the available commercial appraisal report formats. The report summarizes all conclusions for the client to understand the appraiser’s rationale. The appraiser must determine if additional detail or explanation is required. Additionally, the report may contain external material references found in company files. From a legal standpoint, it can be depended upon by additional intended users, and for real estate related purposes, this format blends itself as the most applicable in this area.
Restricted Appraisal Report
This report is the less expensive type of commercial appraisal. While the appraiser’s opinions and conclusions must be understood, the report contains minimal detail and the rationale for how the appraiser arrived at those opinions and conclusions may not be understood. A Restricted Appraisal Report is intended only for the client only and may not include any other intended user. This report format can be personalized at the client’s request to meet their needs. If you simply need to know what the property is worth and there is no need to share the report with anyone else, consider this report format.