3.7. Review Reporting Requirements.Oral appraisal review reports are contrary to Uniform Act regulations and these Standards. Therefore, oral appraisal review reports as the end-result or final conclusion of an appraisal review assignment are not permitted. However, an oral appraisal review may be reported if the scope of work for an appraisal review assignment requires an oral review to be conducted in advance of a final written appraisal review report and there is adequate support for the oral review in the review appraiser’s workfile for the assignment. 

These Standards do not require a specific review report format or structure. A number of federal agencies have required or recommended formats for review reports to provide consistency and efficiency in the review reporting process. Review appraisers for these agencies should, of course, be familiar with and follow these agency-required or recommended formats. Irrespective of the review report format, all appraisal review reports must be in writing and contain, at a minimum, the following: 

• Identification of the client and intended users of the review report, the intended use of the review, and the purpose of the review assignment; 

• Identification of the appraisal report under review, the date of the review report, the property and ownership interest appraised in the report under review, the date of the report under review and the effective date of the value opinion(s) reported, and the names of the appraisers that completed the report under review; and 

• Description of the scope of work performed in the review; 

• Statement of opinions, reasons, and conclusions reached concerning the appraisal report under review; and 

• Review appraiser’s signed certification, in accordance with these Standards and USPAP. 

The scope of work undertaken in the review assignment must be adequately described so that the intended user of the review report will understand the type and level of review completed.