The AOA Online Appraisal
Report Writing Standard

Online 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 (including condition) and property interest to be valued;
• A definition of the type of value determined, e.g., market value, fair market value;
• The effective date of the appraisal, the date of inspection, and the date of the report;
• 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;
• The identification, description and condition of the markets explored;
• A statement of any extraordinary assumptions made or limiting conditions encountered that might affect the value conclusion;
• A statement of the extent of authentications performed, if any;
• If applicable, a statement that the appraisal is hypothetical, contingent, fractional, or preliminary;
• The final value opinions or conclusions;
• For online appraisals that make use of an appraisal management company a statement similar to the following. See this flowchart for an illustration.

  "By agreement between the appraisal management company and the client, the scope of work for this appraisal assignment has been limited to providing an estimate of market value for the function of contemplated sale or purchase, or personal planning. This appraisal is invalid if used for any other purpose. This is a restricted-use appraisal report that can be used only by the client and no one else. The appraiser's opinions and conclusions set forth in this report cannot be understood properly by anyone other than the client without additional information in the appraiser's workfile. Due to the requirement for anonymity, this appraiser is unaware of the identity of the client, but assumes the client to be a private party.

  Value conclusions are based only on client-provided written descriptions and digital images of the property, and not on a personal inspection of the property by the appraiser. Accordingly, this appraisal may have made use of extraordinary assumptions, any one of which if inaccurate could render the value conclusions inaccurate. The appraiser has determined that this appraisal process is not so limited that the reported results would tend to mislead the client or intended users. The client is aware that the resulting value conclusions may be less reliable than had the property been personally inspected.  For greater reliability and for appraisal uses other than that listed above, it is suggested that the client submit the property to a qualified appraiser for a personal inspection."

• 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 online appraisal report that incorporates the above AOA Online Appraisal Report Writing Standard.