What is the primary difference between appraisal report options?

The primary difference between appraisal report options lies in the level of detail and information provided in each type of report. A Restricted Appraisal Report may condense information and focus only on essential findings, whereas a Self-contained Appraisal Report presents comprehensive details, including the methodology, data, and analyses that led to the appraiser’s conclusions.

Different types of reports cater to the needs of various users, and the choice of report type will depend on how much detail the intended users require to make informed decisions. This detail ensures that users can understand the basis of the appraiser’s conclusions, guidance for implementing findings, and any limitations that may apply.

While Restricted Appraisal Reports and Self-contained Reports differ in scope and depth of information, each serves distinct purposes within the appraisal profession. The options regarding form reports or workfile maintenance are misinterpretations of USPAP guidelines; they do not encapsulate the core differences in report types effectively.