UP Standards

2.3.1.5. Executive Summary. The appraiser shall report the major facts and conclusions that led to the final opinions(s) of value. This summary should include an identification of the property appraised; the highest and best use of the property (both before and after the acquisition if a partial acquisition); brief description of improvements (both before and after the acquisition if a partial acquisition); the indicated value of the property by each approach to value employed (both before and after the acquisition if a partial acquisition); the final opinion of value (both before and after the acquisition if a partial acquisition); any hypothetical conditions, extraordinary assumptions, limiting conditions, or instructions; and the effective date of the appraisal.  

2.3.1.4. Appraiser’s Certification. The appraisal report shall include an appraiser’s signed certification statement that is consistent with the certification requirements of USPAP Standard 2. In addition, the following statements related to these Standards must be included:  • the appraisal was developed and the appraisal report was prepared in conformity with the Uniform Appraisal Standards for Federal Land Acquisitions;  • the appraisal was developed and the appraisal report prepared in conformance with the Appraisal Standards Board’s Uniform Standards of Professional Appraisal Practice and complies with USPAP’s Jurisdictional Exception Rule when invoked by Section 1.2.7.2 of the Uniform Appraisal Standards for Federal Land Acquisitions; and  • the appraiser has made a physical inspection of the property appraised and that the property owner,…

2.3.1.3. Table of Contents. The major parts of the appraisal report and their subheadings should be listed. Items in the addenda of any report shall be listed individually in the table of contents.

2.3.1.2. Letter of Transmittal. This should include the date of the letter; identification of the property and property rights appraised; a reference that the letter is accompanied by an appraisal report; a statement of the effective date of the appraisal; identification of any hypothetical conditions, extraordinary assumptions, limiting conditions, or legal instructions; the value opinion (or, in a partial acquisition, opinions of the value of the larger parcel before the acquisition and the remainder property after the acquisition, the difference); and the appraiser’s signature.

2.3.1.1. Title Page. This should include (1) the name, street address, and agency assigned tract or parcel number (if any) of the property appraised; (2) the name and address of the individual(s) making the report; and (3) the effective date of the appraisal.  

2.3.1. Introduction.

2.3. Content of Appraisal Report.

2.2.5. Draft Reports. Agencies may request that the appraiser provide a draft of all or a portion of the appraisal report prior to delivery of a final report. This requirement should be addressed as part of the scope of work with the agency before initiating the assignment. A draft should not be signed and must be clearly marked as a draft or a work in progress.  

2.2.4. Electronic Transmission of Appraisal Reports. It is common for appraisers to deliver appraisal reports electronically. The appraiser is responsible for the security of the report when it is submitted in this manner.  

2.2.3. Compliance with Rule 26 of the Federal Rules of Civil Procedure. If an appraiser may testify as an expert witness in a federal trial or deposition, the appraiser’s report must satisfy not only these appraisal Standards, but also the content requirements of Rule 26(a)(2)(B) of the Federal Rules of Civil Procedure.  Rule 26(a)(2)(B) requires a written report, prepared and signed by the expert, that contains:  i. a complete statement of all opinions the witness will express and the basis and reasons for them;  ii. the facts or data considered by the witness in forming them;  iii. any exhibits that will be used to summarize or support them;  iv. the witness’s qualifications, including a list of all publications authored in…