The Uniform Standards of Professional Appraisal Practice (USPAP) of the Appraisal Foundation defines two reporting formats – Appraisal Report and Restricted Appraisal Report.

Appraisal Report

An Appraisal Report is intended to comply with the reporting requirements set forth under Standards Rule 2-2(a) of the Uniform Standards of Professional Appraisal Practice (USPAP).

Restricted Appraisal Report

A Restricted Appraisal Report is an appraisal prepared under Standards Rule 2-2 (b) of an appraisal performed under the Uniform Standards of Professional Appraisal Practice.

A Restricted Appraisal Report contains statements of the appraiser’s findings without explanation of data, reasoning or analyses that were used to develop the opinion of value. All of the supporting data, reasoning and analyses in support of the appraiser’s finding are retained in the appraiser’s work file.

A Restricted Appraisal Report is appropriate when the client is the only intended user and the intended use warrants restricted disclosure of the data, reasoning and analyses used to develop the opinion of value.

A Restricted Appraisal Report is not appropriate when the client is not the only intended user or the intended use calls for level of detail that is not provided within the frame work of a Restricted Use Appraisal Report.

These formatting options for appraisal reporting are outlined in Standard 2 of the Uniform Standards of Professional Appraisal Practice (USPAP) as follows: The Official USPAP Website