The correct answer is option 3) Follow the minimum report content requirements of STANDARD 2.
Sid is preparing an appraisal report, using a standard pre-printed appraisal form the way for him to ensure that he meets his USPAP reporting requirements is he should follow the minimum report content requirements of STANDARD 2.
What is appraisal report?
The appraisal report is one of two forms of appraisal reports recognized by the Uniform Standards of Professional Appraisal Practice (USPAP). The appraisal report is a report that may be meant just for the customer, but it may also be used by other people.
Parts of the appraisal's study and development of the property must be presented in an appraisal report, as must any reasoning that supports the assessment's analysis and conclusion.
This sort of analysis contains more information about market supply and demand, property types, and occupancy rates in the area.
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