The Sales Appraisal Form is a crucial document in U.S. real estate transactions, designed to provide an objective valuation of property. This form must comply with federal regulations including USPAP and FIRREA, as well as state-specific requirements. The document is typically required for mortgage lending, property sales, tax assessments, and legal proceedings. It includes detailed property analysis, market conditions, comparable sales data, and the appraiser's professional opinion of value. The Sales Appraisal Form serves as both a legal document and a tool for informed decision-making in property transactions.
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1. Property Identification: Detailed description of the subject property including address, legal description, and property type
2. Purpose of Appraisal: Clear statement of the appraisal's intended use and users
3. Effective Date: Date of the appraisal and date of property inspection
4. Market Analysis: Overview of market conditions and trends affecting the property
5. Valuation Approach: Methods used to determine property value (sales comparison, cost, income approaches)
1. Environmental Assessment: Additional section required when environmental factors significantly impact value - used for properties with potential environmental concerns
2. Highest and Best Use Analysis: Analysis of optimal property use - particularly relevant for complex commercial properties or vacant land
1. Comparable Sales Data: Detailed information about comparable property sales used in the valuation
2. Property Photographs: Interior and exterior photographs of the subject property
3. Maps and Plans: Location maps, site plans, and building layouts
4. Appraiser Certifications: Required professional certifications and licenses of the appraiser
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