Appraisal Checklist under USPAP 2-2(a) (USA)

Overview of Contract

This template is designed to help property appraisers in the United States create contracts for their appraisal clients with ease and efficiency. It provides a clear and customizable framework that can be downloaded, saved, and reused for multiple transactions.

Appraiser's Fees and Expenses

The client is responsible for paying the appraiser's fee as stipulated in the contract. In addition to the fee, the client will also cover any reasonable expenses incurred by the appraiser in the course of performing the appraisal services.

Delivery of Appraisal Report

The appraiser commits to delivering the completed appraisal report within 30 days of engagement. However, this timeline may be extended if there are factors beyond the appraiser's control that cause delays.

Expert Testimony

If the services of the appraiser are required for testimony in court, the client agrees to compensate the appraiser with an hourly fee for the time spent giving testimony, in addition to any related expenses.

Legal and Customization Details

This contract template is a legal document governed by the laws of the United States. Users may fully customize the template as needed to meet their specific requirements and may use it multiple times as situations demand.

Do an appraisal of an acreage or vacant land in the United States with this template appraisal report form.

• The appraisal is performed to determine fair market value of the property based on the three standard approaches - Market Comparison, Replacement Cost and Income.
• The appraiser must disclose all assumptions and underlying conditions which may affect the accuracy of the appraisal.
• The Replacement Cost Approach considers the current replacement value of the improvements, less depreciation, in combination with the current value of the land as if vacant.
• The Market Comparison Approach analyzes recent market action on comparable properties.
• The Income Approach or Capitalization Method capitalizes the estimated annual net income from the property at an appropriate rate into an indication of the capital value of the property.
• Available in MS Word format.
• Intended to be used only in the United States.

Property appraisers can prepare an Exterior-Only Inspection Residential Appraisal Report with this free Form 2055 from Freddie Mac.

• This is a standard report form that can be used anywhere in the United States.
• This appraisal report is for a one-unit property or a one-unit property with an accessory unit, including units in a planned unit development (PUD).
• Do not use this form for a manufactured home, a condominium unit or a cooperative unit.
• Freddie Mac Form 2055, available in PDF format.
• For use only within the USA.

Use the Freddie Mac Uniform Residential Appraisal Report Form to prepare an appraisal report for a client.

• The purpose of the appraisal report is to provide the client with an accurate opinion of the market value of the subject property, for mortgage financing.
• This appraisal form should be used for single family dwellings, but not for manufactured homes, condo units or units in a cooperative project.
• Freddie Mac Form 70, USA Uniform Residential Appraisal Report. Available in PDF format.