- Inspection
- The appraiser inspects the interior and the exterior of the property.
- Analysis
- The analysis includes a comparable rent schedule. When the product is also a full appraisal, the sales comparison approach is developed for market value.
- Conditions
- The opinion of value is as-is, in the condition found at inspection, unless the comments state a hypothetical condition or a completion condition.
- Standards
- The appraisal conforms to the Uniform Standards of Professional Appraisal Practice (USPAP).
- Appraiser independence
- The appraiser develops any opinion of value independently. The client, the intended user, and any other party may not direct the analysis or the assignment results.
