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A Uniform Residential Appraisal Report or URAR is one of the most common forms used in United States real estate appraisals.It was created to allow for standard reporting and analysis of single-family dwellings or single-family dwellings with an "accessory unit".
Real estate transactions often require appraisals because every property has unique characteristics. The location also plays a key role in valuation. Appraisal reports form the basis for mortgage loans, settling estates and divorces, taxation, and so on. Sometimes an appraisal report is used to establish a sale price for a property.
Uniform Standards of Professional Appraisal Practice (USPAP) can be considered the quality control standards applicable for real property, personal property, intangible assets, and business valuation appraisal analysis and reports in the United States and its territories. USPAP, as it is commonly known, was first developed in the 1980s by a ...
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO. A BPO can be either an exterior drive-by or a full interior report.
Legal presumptions affecting appraisal conditions are rare, but the appraiser may encounter legal presumptions in the course of an appraisal practice. For example, in some jurisdictions a public entity has standing to commence an action to condemn private property only if it is able to demonstrate that it could not reach a resolution with the ...
Having multiple owners of a property in general introduces other wealth-depleting problems, regardless of the ownership structure. For example, these owners have to address property taxes, repairs ...
The Appraisal Foundation provided editing and technical assistance to the Standards, but neither undertakes nor assumes any responsibility whatsoever for the content of the Standards. The Appraisal Foundation has published the Uniform Appraisal Standards for Federal Land Acquisitions on behalf of the Conference and in cooperation with the ...
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