Collins and Associates provides appraisal reports near Anaheim, Brea, Buena Park, City of Industry, City of Commerce, Corona, Costa Mesa, Fontana, Fullerton, Irvine, La Habra, La Habra Heights, Long Beach, Los Angeles, Moreno Valley, Murrieta, Ontario, Orange County, Pasadena, Pomona, Rancho Cucamonga, Riverside, San Bernardino, Santa Ana, Temecula, Victorville, Whittier, and beyond.
The Uniformed Standards of Professional Appraisal Practice (USPAP) allows two types of appraisals. They are as follows:
1) Appraisal Report
2) Restricted Appraisal Report
There are three appraisal formats, and they are as follows;
1) Standard Appraisal Forms: Typically used for conventional lending, on houses, small income units and apartment buildings. This consists of a few pages of checking the correct boxes and one line answers, i.e. the zoning is to check a box and give the legal use on one line.
2) Narrative Appraisal Report: Typically used for conventional lending, on commercial and industrial properties. This consists of an narrative report with 60 to 120 pages, i.e. The zoning information could consist of several pages, with an in-depth analysis of the zoning and the legal uses.
3) Restricted Narrative Appraisal Report: This is typically used for the IRS, Legal Matters, Property Appraisals to determine the value of a property to buy or sell, excreta. The reports are approximately 20 to 30 pages, i.e. the zoning information could be only one or two paragraphs. The Restricted Narrative Appraisal Report consists of the same information and appraisal approaches to value as the Narrative Appraisal Report, but is a brief report with just the nuts and bolts and the value is just as reliable.
Appraisal fees depend on which type of appraisal format is used. Deciding which format is used, also depends on the purpose of the appraisal report.