Question

Mara completes an appraisal on a single-unit residence and reports the results in an Appraisal Report. In this report, how must she disclose the scope of work performed

Answer 1

In this report, Mara must disclose the scope of work performed by using a summary report.

What is the USPAP?

USPAP is an acronym for the Uniform Standards of Professional Appraisal Practice and it can be defined as the generally recognized ethical and performance standards that is saddled with the responsibility of setting forth the requirements for all appraisal reports.

Generally, an appraisal report may be presented to end users in one of three written formats and these include the following:

• Self-contained reports.

• Restricted-use reports.

• Summary reports.

Based on the Uniform Standards of Professional Appraisal Practice (USPAP), Mara must disclose the scope of work performed on the single-unit residence by using a summary report.

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