A summary of the USPAP changes to written appraisal reporting options.
USPAP 2014-2015 contained some significant changes to how written appraisal reporting options are classified. There are now only two types of appraisal reports: Restricted Appraisal Reports and Appraisal Reports.
In the 2012-2013 version of USPAP, there were three written appraisal reporting options: Restricted-Use Appraisal Reports, Summary Appraisal Reports, and Self-Contained Appraisal Reports.
Many appraisers have long stated that Summary Appraisal Reports and a Self-Contained Appraisal Reports contained significant overlap, and have had a difficult time distinguishing between the two. As a result, these two reporting options were effectively combined, and will now be referred to as Appraisal Reports. Restricted-Use Appraisal reports were renamed Restricted Appraisal Reports.
St Paul Appraisal Office
Minneapolis Appraisal Office
@2018 Orion Appraisals