What is a Restricted Appraisal Report?
A Restricted Appraisal Report contains minimal detail/content and can legally only be relied upon by the client, not any other party. This type of report is not appropriate for most appraisal situations due to the fact that it contains minimal details and content. Further, this report type may not be understood without additional information contained in the workfile that is not transmitted in the report. This is the least common appraisal report type because it does not satisfy the needs of most lenders or appraisal users. However, when a very abbreviated appraisal report…
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