Minimum Scope Appraisal Report

The Minimum Scope Appraisal is a proprietary short narrative report that A Quality Appraisal, LLC developed to be less costly for our clients and remain USPAP compliant.  Minimum Scope Appraisals are useful in situations where the client just needs to know the value of their home, but does not need or want a more detailed appraisal similar to the more complex form style appraisals (Full Appraisal) used for conventional lending. 

Minimum Scope Appraisals are applicable for helping to set a list price, helping negotiate a purchase, or financial planning.  Minimum Scope appraisals are not typically used for divorces, estates, or taxes, but can be used in these situations for a preliminary value to decide what step to take next.  At the deaccession of the appraiser, Minimum Scope appraisals may not be applicable on unique or complex properties.

With every minimum scope appraisal, the client must understand that this is a streamlined product that often produces the same results as a more detailed analysis, but sometimes does not.  With less research and analysis, sometimes comes a different result.  If the client upgrades to a more detailed appraisal, the value opinion could be different.



Here is a table that compares a Full Appraisal and our Minimum Scope Appraisal.

Minimum Scope Appraisal

Full Appraisal

Cost of Appraisal

Up to Half Price

Full Price

Interior Inspection

Optional

Optional

Measurement

With Interior Inspection

With Interior Inspection

Subject Description

Less

More

Subject Photos

With Interior Inspection

With Interior Inspection

Subject Market Analysis

Included

Included

Comparable Sales

Included

Included

Comparable Sale Photos

Included

Included

Comparable Sale Map

Included

Included

Land Value Estimate

Not Included

Usually Included

Cost Approach

Not Included

Usually Included

Income Approach

Not Included

Included when Applicable

Agent Interviews

Not Included

Included when Available

Data Verification

Less

More

Quantitative Analysis

Not Included

Included

Assumptions

More

Less

Signed Certification

Included

Included

Typical Length of Report

20 Pages

40 Pages


Here is a link to a related blog post for more information about the Minimum Scope Appraisal Report and scope of work in general.

“It is one of the best reports I have reviewed.”  Paula R.

“This is the most fabulous, detailed appraisal I’ve ever seen or could ever imagine!”  Jean C.