Clients are increasingly requesting appraisers to provide different types of appraisals in lieu of the traditional “full” appraisal. There are many different types of these non-traditional assignments, including evaluations, desktop appraisals, appraiser-assisted AVMs, and others. These types of assignments are sometimes called limited scope appraisals, because the scope of work for these assignments is usually something less than the traditional “full” appraisal that appraisers are accustomed to completing.
This course is intended to assist appraisers in understanding the need for and requirements to develop a limited scope appraisal for use in certain types of residential lending and servicing. The discussion of several different types of limited scope appraisals involves the development and reporting of the appraisal in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP).