24.103(a)(2)

(2) The Agency has the responsibility to assure that the appraisals it obtains are relevant to its program needs, reflect established and commonly accepted Federal and federally-assisted program appraisal practice, and as a minimum, complies with the definition of appraisal in § 24.2(a)(3) and the five following requirements: (See appendix A, § 24.103 and 24.103(a).)

  • 24.103(a)(2)(i) An adequate description of the physical characteristics of the property bein...
  • 24.103(a)(2)(ii) All relevant and reliable approaches to value consistent with established F...
  • 24.103(a)(2)(iii) A description of comparable sales, including a description of all relevant...
  • 24.103(a)(2)(iv) A statement of the value of the real property to be acquired and, for a par...
  • 24.103(a)(2)(v) The effective date of valuation, date of appraisal, signature, and certifica...