The AOA Appraisal Report Writing Standard

Appraisal reports prepared by AOA members shall include:

• A statement as to the identity of the client or the type of client, e.g., private owner;
• A statement as to by whom the appraisal is intended to be used including whether the appraisal report is restricted-use, summary or self-contained as defined by USPAP;
• A statement of the intended use of the appraisal report, i.e., client's contemplated sale or purchase, damage claims, etc.;
• A description of the property and its condition including the relevant property characteristics as well as the property interest to be valued;
• A definition of the type of value determined, e.g., market value, replacement value, fair market value;
• The effective date of the appraisal, the date of inspection, and the date of the report;
• Disclosure of the "scope of work," i.e., a statement of the appraisal procedures followed including the approach to value employed, and the extent of the process of collecting, confirming, and reporting of data;
• A statement of any extraordinary assumptions made or limiting conditions encountered that might affect the value conclusion;
• If applicable, a statement that the appraisal is hypothetical, contingent, fractional, or preliminary;
• The final value opinions or conclusions;
• A signed (digital signature is satisfactory) USPAP certification statement similar to the following:
  
  "I certify that to the best of my knowledge and belief:
  1. Statements of fact contained in this report are true and correct.
  2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal interest with respect to the parties involved.
  3. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.
  4. My engagement in this assignment was not contingent upon developing or reporting predetermined results.
  5. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.
  6. My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice.
  7. I have (or have not) made a personal inspection of the property that is the subject of this report.
  8. No one provided significant personal property appraisal assistance to the person signing this report. (If there are exceptions, the name of each individual providing significant professional assistance must be stated.)"

Click here for a sample traditional appraisal report that incorporates the above AOA Appraisal Report Writing Standard.

Click here for a sample online appraisal report that incorporates the above AOA Appraisal Report Writing Standard.