A narrative appraisal report is the most common report for commercial appraisals. This type of report contains an extensive level of detail and satisfies the needs of lenders and large institutions. Appraisal reports can have one, two, or three approaches, depending on the appraisal problem, property type, and/or use of the appraisal.
Restricted Use Appraisal Report
Restricted Use appraisal reports do not typically satisfy the needs of most lenders. Our firm's restricted use reports are generally more expensive than our competitors. They contain adequate detail and narrative (property tour, measurements, exhibits, maps, full comparable write ups, comparable adjustment tables, etc.) and fully support our opinion of value. Explanation regarding why adjustments are made is generally excluded. Restricted Use reports are less time consuming to produce and expensive than Appraisal Reports. This format may be a good fit for our non-lending institution clients.