Appraisal Report Template

APPRAISAL REPORT TEMPLATE

THIS APPRAISAL REPORT (the "Report") is made and entered into as of by and between Client Name: and Appraiser Name: .

WHEREAS

WHEREAS, Client engages Appraiser to prepare a written appraisal concerning the real property commonly described as (the "Property") for the purpose of .

WHEREAS, the parties agree that the appraisal shall be prepared in conformity with the scope of work and terms set forth herein, and that Appraiser shall act as an independent contractor and not as an agent of Client.

WHEREAS, Appraiser warrants that the appraisal will be performed by a state-licensed or state-certified appraiser in accordance with professional appraisal standards and applicable state laws.

SCOPE OF WORK

The appraisal assignment shall include inspection of the Property (unless otherwise agreed), data collection, market analysis, application of appropriate valuation approaches, reconciliation of values, and preparation of a written Report that sets forth the appraisal conclusions, assumptions, and limiting conditions.

PROPERTY IDENTIFICATION

INSPECTION AND DATES

Inspection Date:    Effective Date of Valuation:    Report Date:

APPRAISER INFORMATION

VALUATION APPROACHES

Select approaches to be used in the analysis:

VALUATION CONCLUSION

ASSUMPTIONS AND LIMITING CONDITIONS

The appraisal is subject to the following assumptions and limiting conditions. Appraiser has made no investigation of title, legal matters, environmental hazards, or regulatory compliance beyond what is expressly stated in the Report. The appraisal is valid only for the intended use and users identified in this Report and for the effective date noted above.

PAYMENT TERMS

TERM AND TERMINATION

This engagement commences on and continues until completion of the Report or until , unless earlier terminated in accordance with this section.

Either party may terminate this engagement for material breach by providing written notice to the other party in accordance with the notice period above. Termination shall not relieve Client of its obligation to pay for services performed and expenses incurred through the effective date of termination.

CONFIDENTIALITY

Appraiser agrees to maintain as confidential all non-public information obtained from Client in connection with this engagement and to disclose such information only to employees or agents who have a need to know and who are bound by confidentiality obligations. The Report and underlying work product are provided to Client for the stated intended use and shall not be distributed to third parties without Appraiser’s prior written consent, except as required by law.

GOVERNING LAW

This Agreement and the appraisal engagement shall be governed by and construed in accordance with the laws of the State of , without regard to its conflict of law rules.

ENTIRE AGREEMENT

This Report, including the recitals, scope of work, and any appendices or exhibits expressly incorporated by reference, constitutes the entire agreement between Client and Appraiser with respect to the appraisal engagement and supersedes all prior agreements and understandings, whether written or oral. Any amendment or modification must be in writing and signed by both parties.

CERTIFICATION

The Appraiser certifies that, to the best of Appraiser’s knowledge and belief, the statements in the Report are true and correct, the analyses and opinions are developed and reported with impartiality and independence, and the Appraiser has no present or contemplated future interest in the Property that would constitute a conflict of interest, except as disclosed herein.

LIMITING CONDITIONS

The appraiser's opinions are based on information provided by public records, market data, site inspection, and information supplied by Client. Appraiser is not responsible for hidden or unapparent conditions of the Property or for legal matters affecting the Property. If additional information materially affecting the appraisal becomes available, the Report may need revision.

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