A06_44022493_GRTE_04-131A_Appraisal_Exhibit_A_NPS_Review_Checklist.xlsx
XLSX spreadsheet 57 KB Posted
- Solicitation number
- 140P2125Q0151
About this file
This file is a comprehensive UASFLA (Uniform Appraisal Standards for Federal Land Acquisitions) 6th Edition Appraisal Review Checklist for the National Park Service, specifically related to two appraisals for Grand Teton National Park (Solicitation Number: 140P2125Q0151). The detailed checklist provides an exhaustive review protocol for federal land acquisition appraisals, covering critical sections including introduction, factual data, data analysis, approaches to value, and exhibits/addenda.
The checklist meticulously outlines required documentation and analysis elements, such as legal descriptions, site characteristics, sales history, highest and best use analysis, and valuation approaches (sales comparison, cost, and income). It mandates specific reporting requirements for partial acquisitions, including descriptions of remainder properties, impacts of government acquisitions, and comprehensive value reconciliation. The document is designed to ensure appraisals meet rigorous federal standards, with specific guidance on certification, verification, and detailed reporting of property characteristics, market analysis, and valuation methodologies for federal land acquisition purposes.
View the file
Other files
Show all 12
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
Text version
Checklist - UASFLA 6th Edition
| UASFLA 6th EDITION APPRAISAL REVIEW CHECKLIST - Section 2 Appraisal Reporting | ||||||
| Appraisal Report Prepared By: | Client: | National Park Service (NPS) | ||||
| Effective Date Of Value: | Intended Users: | NPS | ||||
| Property Appraised: | Property Type: | |||||
| Appraisal Review Report Prepared By: | Before and After Analysis: | |||||
| Appraisal Review Report Reading Dates: | Improved? | |||||
| INTRODUCTION - UASFLA SECTION 2.3.1 | COMPLIANT | |||||
| 2.3.1.1 | Title Page | Per UASFLA | Yes | No | N/A | Comment |
| Property name | Should Include | |||||
| Property address | Should Include | |||||
| Agency assigned tract or parcel number (if any) | Should Include | |||||
| Name of the individual(s) making the report | Should Include | |||||
| Address of the individual(s) making the report | Should Include | |||||
| Effective date of the appraisal | Should Include | |||||
| 2.3.1.2 | Letter of Transmittal | Per UASFLA | Yes | No | N/A | Comment |
| Date of the letter | Should Include | |||||
| Identification of the property appraised | Should Include | |||||
| Identification of the property rights appraised | Should Include | |||||
| Reference that the letter is accompanied by an appraisal report | Should Include | |||||
| Statement of the effective date of the appraisal | Should Include | |||||
| Identification of any hypothetical conditions, extraordinary assumptions, limiting conditions, or legal instructions identification | Should Include | |||||
| Value Opinion | Should Include | |||||
| For Partial Acquisitions: Opinions of the value of the larger parcel before the acquisition and the remainder property after the acquisition, and the difference. | Should Include | |||||
| Appraiser's signature | Should Include | |||||
| 2.3.1.3 | Table of Contents | Per UASFLA | Yes | No | N/A | Comment |
| Major parts of the appraisal report and their subheadings should be listed. | Should List | |||||
| Items in the addenda of any report shall be listed individually. | Shall List | |||||
| 2.3.1.4 | Appraiser’s Certification (also see specific Certification tab) | Per UASFLA | Yes | No | N/A | Comment |
| Appraiser’s signed certification statement consistent with the certification requirements of USPAP Standard 2 | Shall Include | |||||
| The following statements must be included: | ||||||
| • the appraisal was developed and the appraisal report was prepared in conformity with the Uniform Appraisal Standards for Federal Land Acquisitions | Must Include | |||||
| • the appraisal was developed and the appraisal report prepared in conformance with the Appraisal Standards Board’s Uniform Standards of Professional Appraisal Practice and complies with USPAP’s Jurisdictional Exception Rule when invoked by Section 1.2.7.2 of the Uniform Appraisal Standards for Federal Land Acquisitions | Must Include | |||||
| • the appraiser has made a physical inspection of the property appraised and that the property owner, or [his][her] designated representative, was given the opportunity to accompany the appraiser on the property inspection. | Must Include | |||||
| The appraiser’s opinion of the market value of the subject property as of the effective date of the appraisal. | Shall Include | |||||
| For Partial Acquisitions: The certification shall include both the appraiser’s opinion of the market value of the whole property as of the effective date of the appraisal and the appraiser’s opinion of the remainder property’s market value after the government’s acquisition and the difference between them as of the effective date of the appraisal. | Shall Include | |||||
| Items that may be required by law and the appraiser’s professional organization(s). | May Add | |||||
| Appraisers should avoid adding certifications that are not pertinent to the specific appraisal (e.g., that the report was prepared in accordance with FIRREA or that are beyond the scope of the appraisers’ assignment (e.g., certifying an opinion of just compensation). | Should Avoid | |||||
| 2.3.1.5 | Executive Summary | Per UASFLA | Yes | No | N/A | Comment |
| Major facts and conclusions that led to the final opinions(s) of value | Shall Report | |||||
| Identification of the property appraised | Should Include | |||||
| Highest and best use of the property (both before and after the acquisition if a partial acquisition) | Should Include | |||||
| Brief description of improvements (both before and after the acquisition if a partial acquisition) | Should Include | |||||
| Indicated value of the property by each approach to value employed (both before and after the acquisition if a partial acquisition) | Should Include | |||||
| Final opinion of value (both before and after the acquisition if a partial acquisition) | Should Include | |||||
| Hypothetical conditions, extraordinary assumptions, limiting conditions, or instructions | Should Include | |||||
| Effective date of the appraisal | Should Include | |||||
| 2.3.1.6 | Photographs | Per UASFLA | Yes | No | N/A | Comment |
| Photographs shall show the front elevation of the major improvements, any unusual features, views of the abutting properties on either side, views of the property directly opposite, and interior photographs of any unique features. | Shall Show | |||||
| Except for an overall view, photographs may be incorporated in the body of the report as appropriate, or may be placed in the addenda of the report. | May | |||||
| Each photograph should be numbered and show the identification of the property, the date taken, and the name of the person taking the photograph. | Should | |||||
| Location from which each photograph was taken and the direction the camera lens was facing should be shown on a plot plan of the property in the report’s addenda. | Should | |||||
| 2.3.1.7 | Statement of Assumptions and Limiting Conditions | Per UASFLA | Yes | No | N/A | Comment |
| Any assumptions and limiting conditions that are necessary to the background of the appraisal shall be stated. | Shall State | |||||
| Any agency or special legal instructions provided to the appraiser shall be referenced and a copy of such instructions shall be included in the addenda of the appraisal report. | Shall | |||||
| If the appraisal has been made subject to any encumbrances against the property, such as easements, these shall be stated. | Shall State | |||||
| It is unacceptable to state that the property has been appraised as if free and clear of all encumbrances, except as stated in the body of the report; the encumbrances must be identified in this portion of the report. | Unacceptable and Must | |||||
| The appraiser must avoid including “boilerplate” assumptions and limiting conditions. For instance, an assumption that improvements are free from termite infestations is inappropriate in the appraisal of vacant land. Also, assumptions and limiting conditions cannot be used by an appraiser to alter an appraisal contract, assignment letter, or the appraiser’s scope of work. | Must Avoid | |||||
| For Partial Acquisitions: The appraiser should identify those hypothetical conditions, assumptions, and limiting conditions that apply to both the before and after acquisition appraisals, those that apply only to the appraisal of the larger parcel before the acquisition, and those that apply only to the appraisal of the remainder. | Should Identify | |||||
| 2.3.1.8 | Description of Scope of Work | Per UASFLA | Yes | No | N/A | Comment |
| The appraiser shall use this section of the report to identify the seven critical elements that defined the appraisal problem to be solved: | ||||||
| • Client | Shall Identify | |||||
| • Intended Users | Shall Identify | |||||
| • Intended Use | Shall Identify | |||||
| • Definition of Market Value | Shall Identify | |||||
| • Effective Date | Shall Identify | |||||
| • Property Characteristics | Shall Identify | |||||
| • Assignment Conditions | Shall Identify | |||||
| For Partial Acquisitions: The appraiser should identify those hypothetical conditions, assumptions, and limiting conditions that apply to both the before and after acquisition appraisals, those that apply only to the appraisal of the larger parcel before the acquisition, and those that apply only to the appraisal of the remainder. | Shall Identify | |||||
| Description of the property rights appraised. | Shall Include | |||||
| Definition of market value found in Section 1.2.4 of UASFLA (must be placed in this portion of the appraisal report). | Shall and Must | |||||
| Should describe the investigation and analysis that was undertaken in developing the appraisal. | Should Describe | |||||
| Geographical area and time span searched for market data should be included, as should a description of the type of market data researched and the extent of market data confirmation. | Should | |||||
| Should state the references and data sources relied upon in developing the appraisal. | Should State | |||||
| The applicability of all approaches to value shall be discussed and the exclusion of any approach to value shall be explained. | Shall Discuss and Explain | |||||
| Explanation and discussion of the implications of hypothetical conditions or extraordinary assumptions must be included. | Must Include | |||||
| Hypothetical conditions and extraordinary assumptions must be labeled as such and any legal instructions must be included in the addenda of the report. (1.2.7.1 Must consult client or counsel before use of hypothetical condition) | Must Label and Include | |||||
| 1.2.4 & 1.2.7.2 | Jurisdictional Exceptions and Exposure Time | Per UASFLA | Yes | No | N/A | Comment |
| The appraiser shall not link an opinion of market value for federal acquisition purposes to a specific exposure time. | Shall Not Link | |||||
| Did the appraiser invoke USPAP’s Jurisdictional Exception Rule? Note: Not linking an opinion of value to a specific exposure time requires a jurisdictional exception to USPAP Standards Rule 1-2(c). | Required | |||||
| Estimates of marketing time are not appropriate for just compensation purposes, and must not be included. | Must Not Include | |||||
| FACTUAL DATA - UASFLA SECTION 2.3.2 | COMPLIANT | |||||
| 2.3.2.1 | Legal Description | Per UASFLA | Yes | No | N/A | Comment |
| Must be sufficiently detailed to properly identify the property appraised. Note: If lengthy, it should be referenced and included in the addenda of the report. | Must | |||||
| If the client agency has assigned a parcel or tract number to the property, that information should also be referenced. | Should Reference | |||||
| 2.3.2.2 | Area, City, and Neighborhood Data | Per UASFLA | Yes | No | N/A | Comment |
| This data (mostly demographic and economic) must be kept to an absolute minimum and should only include information that directly affects the subject property, together with the appraiser’s conclusions as to significant trends. | Must | |||||
| The use of “boilerplate” demographic and economic data is unnecessary and, unless the appraiser demonstrates that the specific data directly impacts the current market value of the subject property, it should be excluded. | Should Exclude | |||||
| Changes in the neighborhood brought about by the government’s project for which the property under appraisal is being acquired shall be disregarded. Note: This specific Standard is contrary to USPAP Standards Rule 1-4(f) and is considered a jurisdictional exception. | Shall Disregard | |||||
| PROPERTY DATA - UASFLA SECTION 2.3.2.3 | COMPLIANT | |||||
| 2.3.2.3.1 | Site | Per UASFLA | Yes | No | N/A | Comment |
| • Present use | Describe | |||||
| • Accessibility and road frontage | Describe | |||||
| • Land contours and elevations | Describe | |||||
| • Soils | Describe | |||||
| • Vegetation (including timber) | Describe | |||||
| • Views | Describe | |||||
| • Land area | Describe | |||||
| • Land shape | Describe | |||||
| • Utilities | Describe | |||||
| • Mineral deposits | Describe | |||||
| • Water rights | Describe | |||||
| • Relevant easements | Describe | |||||
| Additional items: | Describe |
| A statement must be made concerning the existence or nonexistence of commercially valuable mineral deposits. | Must | |||||
| Discuss the beneficial and detrimental factors inherent in the location of the property. | Discuss | |||||
| Presence of hazardous substances should be addressed in accordance with UASFLA Sections 1.3.1.1. | Should Address | |||||
| An affirmative statement is required if the property is located within a flood hazard area. | Required | |||||
| 2.3.2.3.2 | Improvements | Per UASFLA | Yes | No | N/A | Comment |
| • Dimensions | Describe | |||||
| • Square foot measurements | Describe | |||||
| • Chronological and effective age | Describe | |||||
| • Dates of any significant remodeling/renovation | Describe | |||||
| • Condition | Describe | |||||
| • Type and quality of construction | Describe | |||||
| • Present use and occupancy | Describe | |||||
| Additional items: |
| Where appropriate, a statement of the method of measurement used in determining gross building area and net rentable areas should be included. | Should Include | |
| All site improvements require description, including the following: | ||
| • Fencing | Describe | |
| • Landscaping | Describe | |
| • Paving | Describe | |
| • Irrigation systems | Describe | |
| • Domestic and private water systems | Describe | |
| Additional items: |
| If the appraiser will rely on the cost approach to value, or if the acquisition is a partial acquisition that will structurally impact the improvements, a more comprehensive improvement description is required. | Required | ||||||
| 2.3.2.3.3 | Fixtures | Per UASFLA | Yes | No | N/A | Comment | |
| All fixtures are to be described with a statement of the type and purpose of each. | Describe | ||||||
| The current physical condition, relative utility, and obsolescence should be stated for each item or group included in the appraisal, and whenever applicable the repair or replacement requirements to bring the fixture to a usable condition. | Should State | ||||||
| 2.3.2.3.4 | Use History | Per UASFLA | Yes | No | N/A | Comment | |
| State briefly the history of the use of the property as vacant and as improved. Note: If information is indeterminable, the appraiser must report that fact. | State | ||||||
| If improved, state the purpose for which the improvements were designed and the dates of original construction and major renovations, additions, and/or conversions. Note: If information is indeterminable, the appraiser must report that fact. | State | ||||||
| Include a 10-year history of the use and occupancy of the property. Note: If information is indeterminable, the appraiser must report that fact. | Include | ||||||
| 2.3.2.3.5 | Sales History | Per UASFLA | No | N/A | Comment | ||
| Include a 10-year record of all sales. Note: If no sale has occurred in the past 10 years, the appraiser must report the last sale of the property, irrespective of date. | Include | ||||||
| Information to be reported must include: | |||||||
| • Name of the seller | Must Include | ||||||
| • Name of the buyer | Must Include | ||||||
| • Date of sale | Must Include | ||||||
| • Price | Must Include | ||||||
| • Terms and conditions of sale | Must Include | ||||||
| • The appraiser’s verification of the sale and whether the transaction met the conditions required for a comparable sale under Section 1.5.2.2 (Selection and Verification of Sales) | Must Include | ||||||
| Offers to buy or sell the property (if the information is available). | Include | ||||||
| 2.3.2.3.6 | Rental History | Per UASFLA | Yes | No | N/A | Comment | |
| Report the historical rental or lease history of the property for at least the past three years (if this information can be ascertained). | Report | ||||||
| All current leases should be reported, including the date of the lease, name of the tenant, rental amount, term of the lease, parties responsible for property expenses, and other pertinent lease provisions. | Should Report | ||||||
| The appraiser must describe the verification process and whether the lease(s) meets the conditions required for a comparable lease. | Must Describe | ||||||
| 2.3.2.3.7 | Assessed Value and Annual Tax Load | Per UASFLA | Yes | No | N/A | Comment | |
| Include the current assessment and dollar amount of real estate taxes Note: If assessed value is statutorily a percentage of market value, state the percentage. | Include | ||||||
| Some jurisdictions have developed programs wherein property will be assessed based on its current use rather than its highest and best use. These programs often relate to farmlands, timberlands, and open space; for purposes of eligibility, owners may have to agree to leave the property in its existing use for a certain period of time. In such a case, the appraiser should report both the current assessed value and taxes for the property’s existing use and the estimated assessed value and tax load for the property at its highest and best use. | Should Report | ||||||
| 2.3.2.3.8 | Zoning and Other Land Use Regulations | Per UASFLA | Yes | No | N/A | Comment | |
| Identify the zoning for the subject property. | Identify | ||||||
| Zoning must be reported in descriptive terms (e.g., multifamily residential, 5000 sq. ft. of land per unit) rather than by zoning code (e.g., MF-2). | Must Report | ||||||
| Other local land use regulations (that have an impact on the highest and best use and value of the property), including setback requirements, off-street parking requirements, and open space requirements must be reported. | Must Report | ||||||
| The appraiser should also note any master or comprehensive land use plan in existence that may affect the utility or value of the property. | Should Note | ||||||
| If the property was recently rezoned, that must be reported. | Must Report | ||||||
| If the rezoning of the property is imminent or probable, discuss in detail the investigation and analysis that led to that conclusion under Section 2.3.3.1 (Highest and Best Use). Note: The mere assertion by an appraiser that a property could be rezoned is insufficient. | Discuss | ||||||
| The appraiser must identify all other land use and environmental regulations that have an impact on the highest and best use and value of the property. Note: The impact of the regulations must also be discussed in the highest and best use analysis. | Must | ||||||
| The appraiser must also discuss the impact of any private restrictions on the property, such as deed and/or plat restrictions. | Must Discuss | ||||||
| DATA ANALYSIS AND CONCLUSIONS - BEFORE ACQUISITION UASFLA SECTION 2.3.3 | COMPLIANT | ||||||
| 2.3.3.1.1 | Highest and Best Use | Per UASFLA | Yes | No | N/A | Comment | |
| Highest and Best Use as Vacant: The appraiser must describe the analysis developed under Section 1.4 concerning the highest and best use of the property as if vacant | Must | ||||||
| • Physically possible uses (as if vacant) Note: The physical characteristics of the property that impact value must be addressed. These should include property size, shape, topography, access, road frontage, and utilities. | Must | ||||||
| • Legally permissible uses (as if vacant) Note: The appraiser must describe the legal constraints on the property. Zoning requirements, height restrictions, setback and open space requirements, and all other legal constraints on the property should be described and their impact discussed. | Must | ||||||
| • Financially feasible uses (as if vacant) | Must Address | ||||||
| • Maximally productive uses (highest value) (as if vacant) | Must Address | ||||||
| Highest and Best Use as Improved: If the property contains improvements, the appraiser must address the highest and best use as improved. | Must Address if Improved | ||||||
| • Legally permissible uses (as improved) | Must Address if Improved | ||||||
| • Physically possible uses (as improved) | Must Address if Improved | ||||||
| • Financially feasible uses (as improved) | Must Address if Improved | ||||||
| • Maximally productive uses (highest value) (as improved) | Must Address if Improved | ||||||
| The appraiser should discuss the use of the property (as if vacant and as improved), which results in the highest value, and the analysis that supports that conclusion. | Should Discuss | ||||||
| If the appraiser concludes a highest and best use that will require rezoning of the property, the investigations and analyses developed under Section 1.3.1.3 concerning the probability of obtaining that zoning change should be reported in sufficient detail for the client and intended users to understand the reasons for the conclusion. | Should Report | ||||||
| If the appraiser concludes that the highest and best use requires some other form of government approval, the investigations and analyses developed under Sections 1.3.1.3 and 1.4.5 concerning the probability of obtaining those approvals must be described in sufficient detail for the client and intended users to understand the reasons for the conclusion. | Must Describe | ||||||
| The appraiser should identify the timing of the highest and best use and the likely purchaser and user (as if vacant and as improved). | Should Identify | ||||||
| 2.3.3.1.2 | Larger Parcel | Per UASFLA | Yes | No | N/A | Comment | |
| The appraiser must describe the factual basis and analysis underlying the conclusion of the larger parcel analysis. | Must Describe | ||||||
| The three tests (unity of highest and best use, unity of title, and contiguity) must be reported in sufficient detail, with emphasis on the unity of highest and best use. | Must Report | ||||||
| APPLICATION OF APPROACHES TO VALUE | COMPLIANT | ||||||
| 2.3.3.2.1 | Land Valuation - Sales Comparison Approach | Per UASFLA | Yes | No | N/A | Comment | |
| The appraiser shall provide detailed descriptions of confirmed sales of lands that have the same or similar highest and best use as the subject property | Shall Provide | ||||||
| The description of each sale transaction used as a comparable sale should include (at a minimum): | |||||||
| • Date of the transaction | Should | ||||||
| • Price paid | Should | ||||||
| • Name of the seller | Should | ||||||
| • Name of the buyer | Should | ||||||
| • Size of the property | Should | ||||||
| • Location of the property | Should | ||||||
| • Zoning or other legal constraints | Should | ||||||
| • Description of the physical characteristics | Should | ||||||
| • Person with whom the transaction was verified | Should | ||||||
| Differences between the comparable sales and the subject property shall be considered and adjustments made to the sales to address these differences. | Shall Consider | ||||||
| Items of comparison shall include: | |||||||
| • Property rights conveyed | Shall Include | ||||||
| • Financing terms | Shall Include | ||||||
| • Conditions of sale | Shall Include | ||||||
| • Expenditures made immediately after purchase | |||||||
| • Market conditions | Shall Include | ||||||
| • Location | Shall Include | ||||||
| • Physical characteristics | Shall Include | ||||||
| • Economic characteristics | |||||||
| • Legal characteristics | Shall Include | ||||||
| • Non-realty components of value included in the sale property | Shall Include | ||||||
| The adjustments must be summarized in an adjustment grid. | Must Summarize | ||||||
| Each adjustment (whether qualitative or quantitative) should be supported with market data. | Should Support | ||||||
| The data and analysis must provide sufficient detail for the client and intended users to understand the data, the analysis, and the logic of the appraiser’s opinion of market value for the subject land as if vacant. | Must Provide | ||||||
| 2.3.3.2.2 | Land Valuation - Subdivision Development Method | Per UASFLA | Yes | No | N/A | Comment | |
| The report must address all of the factors and assumptions used in sufficient detail for the client and intended users to understand the outcome of this method | Must Address | ||||||
| The market support for each of the following factors used in this analysis must be clearly presented in the report: | |||||||
| • Lot Sale | Must Present | ||||||
| • Absorption Rate | Must Present | ||||||
| • Development Costs | Must Present | ||||||
| • Expenses | Must Present | ||||||
| • Time Lag | Must Present | ||||||
| • Discount Rate | Must Present | ||||||
| The discounted cash flow analysis prepared as part of this analysis must be included in the report. | Must Include | ||||||
| 2.3.3.3 | Cost Approach | Per UASFLA | Yes | No | N/A | Comment | |
| This portion of the report should be in the form of computational data, arranged in sequence, beginning with reproduction or replacement cost. | Should | ||||||
| The report should state the source (book and page—including last date of page revision—if a national service) of all figures used. | Should State | ||||||
| Entrepreneur’s profit, as an element of reproduction or replacement cost, must | |||||||
| be considered and discussed. | Must | ||||||
| If applicable, entrepreneur’s profit should be derived from market data whenever possible. | Should | ||||||
| If the appraiser retained the services of a contractor or professional cost estimator to assist in developing the reproduction or replacement cost estimate, this data should be referenced and the estimator’s report included in the addenda of the appraisal report. | Should | ||||||
| The dollar amount of depreciation from all causes, including physical deterioration, functional obsolescence, and economic or external obsolescence shall be explained and deducted from reproduction or replacement cost. | Shall Explain and Deduct | ||||||
| 2.3.3.4 | Sales Comparison Approach | Per UASFLA | Yes | No | N/A | Comment | |
| Each appraisal report must contain a sufficient description of the comparable sales used so that it is possible for the reader to understand the conclusions drawn by the appraiser from the comparable sales data. | Must Contain | ||||||
| Photographs of the comparable sales must accompany each appraisal report. | Must | ||||||
| Every photograph should show the date taken and the name of the person taking the photograph. | Should Show | ||||||
| Documentation of each comparable sale shall include: | |||||||
| • Name of the buyer | Shall Include | ||||||
| • Name of the seller | Shall Include | ||||||
| • Date of sale | Shall Include | ||||||
| • Legal description (this may be abbreviated if lengthy, or reference may be made to a tax parcel number) | Shall Include | ||||||
| • Type of sale instrument | Shall Include | ||||||
| • Document recording information | Shall Include | ||||||
| • Price | Shall Include | ||||||
| • Terms of sale | Shall Include | ||||||
| • Location | Shall Include | ||||||
| • Zoning | Shall Include | ||||||
| • Present use | Shall Include | ||||||
| • Highest and best use | Shall Include | ||||||
| • Brief physical description of the property | Shall Include | ||||||
| A plot plan or sketch of each comparable property should be included. | Should Include | ||||||
| When quantitative and qualitative adjustments are both used in the adjustment process, all quantitative adjustments should be made first. | Should | ||||||
| If using qualitative analysis, it is essential that the comparable sales utilized include both sales that are overall superior and overall inferior to the subject property. | Essential | ||||||
| In developing a final opinion of value by the sales comparison approach, the appraiser shall explain the comparative weight given to each comparable sale. | Shall Explain | ||||||
| A comparative adjustment chart or graph is required. | Required | ||||||
| 2.3.3.5 | Income Approach | Per UASFLA | Yes | No | N/A | Comment | |
| The appraisal report shall include adequate factual data to support each figure and factor used. | Shall Include | ||||||
| The appraisal report should be arranged in detailed form to show at least (1) estimated gross economic (or market) rent, or income; (2) allowance for vacancy and credit losses; (3) an itemized estimate of total expenses; and (4) an itemized estimate of the reserves for replacements, if applicable. | Should Arrange | ||||||
| The capitalization technique, method, and rate used should be explained in narrative form and supported by a statement of the sources of rates and factors. | Should Explain | ||||||
| The preferred source of an applicable capitalization rate is from actual capitalization rates reflected by comparable sales. | Preferred | ||||||
| If the property is actually rented, its current rent is often the best evidence of its economic (or market) rent and should be given appropriate consideration by the appraiser in developing an opinion of the gross economic rent of the property. | Should | ||||||
| The appraiser should attempt to obtain at least the last three years’ historical income and expense statements for the property. | Should Attempt | ||||||
| If this historical income and expense information is available, it should be included in this portion of the appraisal report or in the addenda. | Should | ||||||
| 2.3.3.6 | Reconciliation and Final Opinion of Market Value | Per UASFLA | Yes | No | N/A | Comment | |
| The appraiser must explain the reasoning applied to arrive at the final opinion of value. | Must Explain | ||||||
| The appraiser must explain how the results of each approach to value were weighed in that opinion. | Must Explain | ||||||
| The appraiser must explain the reliability of each approach to value for solving the particular appraisal problem. | Must Explain | ||||||
| The appraiser shall also state the final opinion of value of all of the property under appraisal as a single amount, including the contributory value of fixtures, timber, minerals, and water rights, if any. | Shall State | ||||||
| If that value opinion includes elements of value that were based on estimates developed by others (e.g., timber cruisers, mineral appraisers), the appraiser cannot merely assume their accuracy. The reasonableness of the subsidiary estimates must be confirmed in accordance with Section 1.13. | Cannot | ||||||
| FACTUAL DATA, DATA ANALYSIS, AND CONCLUSIONS - AFTER ACQUISITION UASFLA SECTION 2.3.7 | COMPLIANT | ||||||
| 2.3.4 | Factual Data - After Acquisition (Partial Acquisitions Only) | Yes | No | N/A | Comment | ||
| 2.3.4.1 | Legal Description: The legal description of the remainder property shall be included. Note: If not available, appraisers may develop their own by utilizing the before acquisition legal description and excluding from it the legal description of the real estate acquired by the government. | Shall Include | |||||
| 2.3.4.1 | Legal Description: If the estate acquired is less than a fee interest (e.g., an easement), the legal description under Section 2.3.2.1 may be referenced and the legal description of the property encumbered by the estate acquired should be included. Should be referenced. | Should | |||||
| 2.3.4.2 | Neighborhood Factors: The appraiser shall describe the government project for which the property is being acquired and its impact, if any, on the neighborhood and the remainder property. | Shall Describe | |||||
| 2.3.4.2 | Neighborhood Factors: The aspects of the government’s project that will result in damages to the remainder property should be described in specific detail. | Should Describe | |||||
| 2.3.4.3.1 | Site: The appraiser must describe the remainder site, paying particular attention to the shape, size, available utilities, and available access to the remainder site. | Must Describe | |||||
| 2.3.4.3.2 | Improvements: The appraiser must describe those improvements remaining in whole or in part. | Must Describe | |||||
| 2.3.4.3.3 | Fixtures: The appraiser must describe those fixtures remaining. | Must Describe | |||||
| 2.3.4.3.4 | History: If the appraisal is prepared after the date of acquisition, the appraiser must report the utilization of the remainder property since the date of acquisition as well as any sales or rentals of the remainder property. | Must Report | |||||
| 2.3.4.3.5 | Assessed Value and Tax Load: The appraiser must estimate what the assessed value and annual tax load will be on the remainder property. | Must Estimate | |||||
| 2.3.4.3.6 | Zoning and Other Land Use Regulations: The appraiser must report the influence of zoning and other land use regulations on the remainder property. | Must Report | |||||
| 2.3.5.1 | Analysis of Highest and Best Use: The appraiser shall state and explain the highest and best use of both the remainder land (as if vacant) and the remainder property (as improved). | Shall State | |||||
| 2.3.5.1 | Analysis of Highest and Best Use: Impacts of the acquisition on the property's highest and best use or the intensity of that use shall be specifically addressed and described. | Shall Describe | |||||
| 2.3.5.1 | Analysis of Highest and Best Use: If restoration or rehabilitation of the remainder property will be required before it can be put to its highest and best use, the physical and economic feasibility of such restoration or rehabilitation shall be explained and justified. | Shall Explain | |||||
| 2.3.5.1 | Analysis of Highest and Best Use: If the acquisition includes a temporary construction easement, or other temporary property interest, the effect of such temporary acquisition on the remainder property’s highest and best use must be discussed. | Must Discuss | |||||
| 2.3.5.2 | Land Valuation: The appraiser will develop an opinion of the market value of the remainder land for its highest and best use as if vacant and available for such use. | Will Develop | |||||
| 2.3.5.2 | Land Valuation: If the acquisition includes one or more temporary construction easements, the impact of those easements on the value of the remainder property must be accounted for in the valuation of the land after acquisition. | Must Account For | |||||
| 2.3.5.2 | Land Valuation: Any diminution in the remainder land value by reason of the temporary easements must be measured in accordance with Section 1.9.1, and then be used as the basis for an adjustment to the remainder’s land value in this section of the report. | Must be Measured | |||||
| 2.3.5.3 | Cost Approach: See Section 2.3.3.3 | ||||||
| 2.3.5.4 | Sales Comparison Approach: See Section 2.3.3.4 | ||||||
| 2.3.5.5 | Income Capitalization Approach: See Section 2.3.3.5 | ||||||
| 2.3.5.6 | Reconciliation and Final Opinion of Market Value: The appraiser must describe the reasoning applied to arrive at the final opinion of value of the remainder property. | Must Describe | |||||
| 2.3.6.1 | Recapitulation: The appraiser must report the difference between the value of the larger parcel and the value of the remainder by deducting the property’s after value from its before value. | Must Report | |||||
| 2.3.6.2 | Allocation and Damages: Damages, as such, are not appraised. However, the appraiser shall briefly explain any damages to the remainder property and allocate the difference in the value of the property before and after the acquisition between the value of the acquisition and damages to the remainder. Note: Such allocation is an accounting tabulation and not necessarily indicative of the appraisal method employed. | Shall Explain | |||||
| 2.3.6.2 | Allocation and Damages: If damages have been measured by a cost to cure, the appraiser must justify the cost to cure and demonstrate that the cost to cure is less than the damage would be if the cure was not undertaken. | Must Justify | |||||
| 2.3.6.3 | Special Benefits: The appraiser shall identify any special or direct benefits accruing to the remainder property and explain how and why those benefits have occurred. | Must Identify | |||||
| EXHIBITS AND ADDENDA 2.3.4 | COMPLIANT | ||||||
| 2.3.7 | Exhibits and Addenda | Yes | No | N/A | Comment | ||
| Legal Instructions: Any legal instructions must be presented. | Must be Presented | ||||||
| Location Map: This exhibit should display the location of the subject property within the city or area in which the property is located. | Should Display | ||||||
| Location Map: All maps should include a north arrow and the identification of the subject property. | Should Include | ||||||
| Comparable Data Maps: The maps should include a north arrow and show the locations of both the comparable sales and/or rentals and the subject property. | Should Include | ||||||
| Details of Comparable Sales and Rental Data: This data may be included in the body of the report. Photographs of each comparable property must be included. | Must | ||||||
| Plot Plan: The plot plan should depict the entire subject property, including dimensions and street frontages. | Should Depict | ||||||
| Plot Plan: Structural improvements should be shown in their approximate locations; significant on-site improvements and easements should also be shown. The dimensions of improvements should be noted. | Should | ||||||
| Plot Plan: The location from which each of the subject photographs was taken should be identified on the plot plan, as well as the photograph identification number and the direction in which the photo was taken. | Should Identify | ||||||
| Plot Plan: In a partial acquisition, the plot plan should identify the remainder area and its dimensions. Note: Any significant construction features of the government project for which the property is being acquired should be shown. | Should Identify | ||||||
| Floor Plan: Floor plans are required only for reports related to leasehold acquisitions or when they are necessary to describe a unique property feature. | Sometimes Required | ||||||
| Title Evidence Report: If the agency provided a title evidence report to the appraiser it should be included, but if it is lengthy it may be referenced. | Should Include | ||||||
| Other Pertinent Reports and Exhibits: These would include, for example, any written instructions given to the appraiser by the agency or its legal counsel, any specialist reports (such as timber appraisals, environmental studies, mineral or water-rights studies or appraisals, reproduction cost estimates, cost to cure estimates, fixture valuations), any pertinent title documents (such as leases or easements), and any charts or illustrations that may have been referenced in the body of the report. | |||||||
| Include the qualifications of all appraisers or technicians who made significant contributions to the completion of the appraisal assignment. | Include | ||||||
| LEASEHOLDS AND PROJECTS 2.4 & 2.5 | COMPLIANT | ||||||
| 2.4 | Reporting Requirements for Leasehold Acquisitions | Yes | No | N/A | Comment | ||
| 2.4.1 | Are the provisions regarding leasehold acquisitions adhered to, if applicable? (2.4.1 - 2.4.3, page 72) | ||||||
| 2.5 | Project Appraisal Reports | Yes | No | N/A | Comment | ||
| 2.5 | Are the provisions regarding project appraisal reports adhered to, if applicable? (2.5, page 72 - 79). |
Certification
| APPRAISER'S CERTIFICATION | ||||
| I certify that, to the best of my knowledge and belief: | COMPLIANT | |||
| 2018-2019 USPAP Standard Rule 2-3, Page 24 | YES | NO | N/A | Comment |
| · The statements of fact contained in this report are true and correct. | ||||
| · The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. | ||||
| · I have no (or the specified) present or prospective interest in the property that is the subject of this report and no (or the specified) personal interest with respect to the parties involved. | ||||
| · I have performed no (or the specified) services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. | ||||
| · I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. | ||||
| · My engagement in this assignment was not contingent upon developing or reporting predetermined results. | ||||
| · My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. | ||||
| · My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. | See overlaping UASFLA | |||
| · I have (or have not) made a personal inspection of the property that is the subject of this report. (If more than one person signs this certification, the certification must clearly specify which individuals did and which individuals did not make a personal inspection of the appraised property.) | See overlaping UASFLA | |||
| · No one provided significant real property appraisal assistance to the person signing this certification. (If there are exceptions, the name of each individual providing significant real property appraisal assistance must be stated.) |
| Appraisal Institute (July 21, 2015), Certification Standard Rules 1-1, 1.2, & 1.3 | YES | NO | N/A |
| · The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute | |||
| · The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. (This exact statement must be used.) | |||
| · As of the date of this report, I (or Designated Member(s) name(s)) have/has completed the continuing education program for Designated Members of the Appraisal Institute. (The exact statement must be used.) | |||
| Or | |||
| As of the date of this report, I (or Designated Member(s) name(s)) have not/has not completed the continuing education program for Designated Members of the Appraisal Institute. (The exact statement must be used.) |
| UASFLA 6th Edition, Section 2.3.1.4, Appraiser’s Certification, Page 58 | YES | NO | N/A |
| · The appraisal was developed and the appraisal report was prepared in conformity with the Uniform Appraisal Standards for Federal Land Acquisitions; | |||
| · The appraisal was developed and the appraisal report prepared in conformance with the Appraisal Standards Board’s Uniform Standards of Professional Appraisal Practice and complies with USPAP’s Jurisdictional Exception Rule when invoked by Section 1.2.7.2 of the Uniform Appraisal Standards for Federal Land Acquisitions; | |||
| · The appraiser has made a physical inspection of the property appraised and that the property owner, or [his][her] designated representative, was given the opportunity to accompany the appraiser on the property inspection. | |||
| v The appraiser’s certification shall also include the appraiser’s opinion of the market value of the subject property as of the effective date of the appraisal. |
XOVerification
| Extraordinary Verification of Sales - Section 1.5.2.4 | COMPLIANT | |||||
| Yes | No | N/A | Comment | |||
| 1 | Examine Authorizing Legislation | |||||
| • Does the legislation require purchase based on market value? | ||||||
| • Does the legislation mandate purchase at other than market value? | ||||||
| • Does the legislation provide for acquisition based on non- market considerations (e.g., unaffected by Endangered Species Act even though an endangered species is found on the property)? |
| 2 | Contact Acquiring Agency | ||
| • Examine the Appraisal | |||
| Was the appraisal based on a partial or total acquisition? | |||
| What property interest was valued? | |||
| Was the highest and best use an economic use? | |||
| Was the highest and best use the same or similar to the subject property? | |||
| Were the sales used in the appraisal influenced by non-market factors? | |||
| Was there an allocation of value in the appraisal addressing the contributions of different land types or improvements? | |||
| • Examine the Appraisal Review | |||
| Did the appraisal review identify any factual or technical errors in the appraisal report? | |||
| • Examine the Negotiators Report | |||
| Was there threat of condemnation if agreement could not be reached? | |||
| Was the price paid based on agency support for a tax write-off for the seller? | |||
| Did the owner threaten to damage property if the asking price Was not paid? | |||
| Was the sale part of a land exchange? | |||
| Did the owner submit an appraisal or other market data to the agency during the negotiation? | |||
| • Examine the Correspondence File | |||
| Was there correspondence between the agency and the owner’s political representatives? | |||
| Was there public pressure on the agency about the purchase? | |||
| Was there media coverage about the purchase? | |||
| • Examine the Conveyance and Closing Documents | |||
| Was the estate conveyed the same as the estate valued in the appraisal? | |||
| Was the estate conveyed an easement? | |||
| Was the price paid for the property equivalent to the appraiser’s final opinion of value? | |||
| Was the price paid within the appraisal’s range of value? | |||
| Did the conveyance allow the seller to remain on the property or continue to use the property for a period of time (e.g., life estate)? |
3 Verify Sale with Buyer and Seller
File details come from the government source that posted it. Updated .