What is a "Restricted Appraisal Report"?

What is a "Restricted Appraisal Report"?

• A. A detailed document open to public scrutiny
• B. A report that is only intended for use by the client and contains less detail
• C. A classified document used in legal cases
• D. A report used for marketing properties

Answer: (B)

A "Restricted Appraisal Report" is designed specifically for use by the client who requested the appraisal, meaning it contains information tailored to that individual's needs. This type of report provides a summary of the appraiser's findings but does not include the extensive detail found in a more comprehensive appraisal report. The restricted nature limits the report's use to the client, effectively keeping the content less detailed and more focused on the client's specific objectives. The format and content of a Restricted Appraisal Report facilitate a more efficient delivery of information to the client, while maintaining confidentiality and limiting liability to third parties. This is particularly important for clients who may require swift evaluations without necessitating the broader context that a full appraisal would entail.

A "Restricted Appraisal Report" is designed specifically for use by the client who requested the appraisal, meaning it contains information tailored to that individual's needs. This type of report provides a summary of the appraiser's findings but does not include the extensive detail found in a more comprehensive appraisal report. The restricted nature limits the report's use to the client, effectively keeping the content less detailed and more focused on the client's specific objectives.

The format and content of a Restricted Appraisal Report facilitate a more efficient delivery of information to the client, while maintaining confidentiality and limiting liability to third parties. This is particularly important for clients who may require swift evaluations without necessitating the broader context that a full appraisal would entail.