McKissock - General Report Writing and Case Studies

McKissock - General Report Writing and Case Studies Appraisal "(noun) The act or process of developing an opinion of value. an opinion of value; (adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services."1 Report any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authorized by the client upon completion of an assignment. 2 Client "The party or parties who engage, by employment or contract, an appraiser in a specific assignment.Comment: The client may be an individual, group, or entity, and may engage and communicate with the appraiser directly or through an agent."3 Date of the Report The date that the appraiser completed and transmitted the appraisal report to the client. It is usually - but not always - different from the effective date of value stated in the appraisal report. Effective Date The date to which the value applies. It can be current, prospective, or retrospective. The effective date of value establishes the viewpoint from which the appraiser viewed the appraisal problem. Intended use "the use(s) of an appraiser's reported appraisal or appraisal review assignment results, as identified by the appraiser based on communication with the client at the time of the assignment."4 Intended User "the client and any other party as identified, by name or type, as users of the appraisal or appraisal review report by the appraiser, based on communication with the client at the time of the assignment."5