In the appraisal report, include required by the acquiring recipient, usually consisting of the following: The property right(s) to be acquired, fee simple, easement, e.g., etc., The being appraised (usually fair market value), and its definition, The appraisal of contaminated property that would get at the difference in value, were the property clean, The date of the appraisal report and the date of valuation, The realty/personalty report required at 49 CFR § 24.103(a)(3)(i)–(v), The known and observed encumbrances, if any, The title information, The location, The zoning requirements and restrictions, The property’s present use, and At least a 5-year sales history of the property. In the appraisal report, identify the highest and best use. If the highest and best use is in question or different from the existing use, provide an appropriate analysis identifying the market-based highest and best use. Present and analyze relevant market information. Specific requirements should include research, analysis, and verification of comparable sales. Inspection of the comparable sales should also be specified. In developing and reporting the appraisal, disregard any decrease or increase in the fair market value of the real property caused by the project for which the property is to be acquired or by the likelihood that the property would be acquired for the project. If necessary, the appraiser may cite the Jurisdictional Exception or Supplemental Standards Rules under Uniform Standards of Professional Appraisal Practice (USPAP) to ensure compliance with USPAP while following this Uniform Act requirement. The appraiser’s analysis, opinions, and conclusions must be included in the appraisal report. Additional Requirements for a Scope of Work:
In the appraisal report, include required by the acquiring recipient, usually consisting of the following: The property right(s) to be acquired, e.g., fee simple, easement, etc., The being appraised (usually fair market value), and its definition, The appraisal of contaminated property that would get at the difference in value, were the property clean, The date of the appraisal report and the date of valuation, The realty/personalty report required at 49 CFR § 24.103(a)(3)(i)–(v), The known and observed encumbrances, if any, The title information, The location, The zoning requirements and restrictions, The property’s present use, and At least a 5-year sales history of the property. In the appraisal report, identify the highest and best use. If the highest and best use is in question or different from the existing use, provide an appropriate analysis identifying the market-based highest and best use. Present and analyze relevant market information. Specific requirements should include research, analysis, and verification of comparable sales. Inspection of the comparable sales should also be specified. In developing and reporting the appraisal, disregard any decrease or increase in the fair market value of the real property caused by the project for which the property is to be acquired or by the likelihood that the property would be acquired for the project. If necessary, the appraiser may cite the Jurisdictional Exception or Supplemental Standards Rules under Uniform Standards of Professional Appraisal Practice (USPAP) to ensure compliance with USPAP while following this Uniform Act requirement. The appraiser’s analysis, opinions, and conclusions must be included in the appraisal report. Additional Requirements for a Scope of Work:
Award%20Management%20Requirements%20Circular_5010-1E_2.docx