DESKTOP RESTRICTED USE APPRAISAL REPORT Form

What is the desktop restricted use appraisal report?

The desktop restricted use appraisal report is a specific type of appraisal that provides a valuation of a property based on limited information and analysis. Unlike traditional appraisals, which may require a physical inspection of the property, this report relies on data available through public records, online resources, and comparable sales. It is typically used in situations where a full appraisal is not feasible or necessary, such as for internal assessments or preliminary evaluations.

Key elements of the desktop restricted use appraisal report

Understanding the key elements of a desktop restricted use appraisal report is essential for both appraisers and clients. The report generally includes:

• Property Description: Basic details about the property, including its location, size, and type.
• Market Analysis: An overview of the local real estate market, including trends and comparable properties.
• Valuation Conclusion: The appraiser's opinion of the property's value based on the data analyzed.
• Limitations: Clear statements regarding the limitations of the report, emphasizing that it is not a full appraisal.

Steps to complete the desktop restricted use appraisal report

Completing a desktop restricted use appraisal report involves several steps to ensure accuracy and compliance. These steps typically include:

• Gathering Data: Collect relevant information about the property and the local market.
• Analyzing Comparables: Identify comparable properties that have recently sold to inform the valuation.
• Calculating Value: Use the data and analysis to arrive at a property value conclusion.
• Documenting Findings: Compile the findings into a structured report format, highlighting key elements and limitations.

Legal use of the desktop restricted use appraisal report

The legal use of a desktop restricted use appraisal report is defined by its intended purpose and the context in which it is used. While it can be a useful tool for internal assessments or preliminary evaluations, it is important to understand that it may not meet the requirements for certain transactions, such as mortgage financing. Users should ensure that they are aware of any legal implications and limitations associated with the report.

How to obtain the desktop restricted use appraisal report

Obtaining a desktop restricted use appraisal report typically involves contacting a certified appraiser who specializes in this type of valuation. Clients can request a report by providing necessary property details and specifying the purpose of the appraisal. It is advisable to verify the appraiser's credentials and experience to ensure the report meets the required standards.

Examples of using the desktop restricted use appraisal report

There are various scenarios in which a desktop restricted use appraisal report can be beneficial. Examples include:

• Internal Valuations: Companies may use these reports for internal assessments of property value.
• Preliminary Evaluations: Investors might request a desktop report to gauge potential investment opportunities.
• Tax Assessments: Property owners can use the report to understand their tax liabilities based on property value.