This document establishes the scope of work, intended use, intended users, and assignment conditions for an Exterior-Only / Limited Scope Appraisal ordered through GreatEstates.US. Please read carefully before completing your purchase. By placing your order you confirm that you have read and agree to these terms.
This is a USPAP-compliant limited-scope appraisal prepared under USPAP Standards 1 and 2 by Russell Harrist, Colorado Certified Residential Appraiser and Certified Probate Expert (CPE). This assignment is limited to an exterior-only inspection; the interior of the property will not be inspected. Please confirm that an exterior-only scope is appropriate for your situation before ordering. If you are unsure, contact Russell before placing your order.
This appraisal is intended for use in connection with one or more of the following:
This appraisal is not intended for use in connection with any federally related transaction (mortgage lending), insurance, or any purpose other than those listed above. Before using this appraisal for probate court filing or IRS purposes, confirm with your estate attorney that a limited-scope appraisal is acceptable for your specific engagement.
The intended users of this appraisal are the client (the personal representative, executor, or authorized party placing the order) and any estate attorneys, accountants, CPAs, or other authorized parties directly involved in the administration of the estate. No other parties are intended users.
This appraisal expresses an opinion of Fair Market Value, defined as the price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell, and both having reasonable knowledge of relevant facts, as of the effective date of value.
The effective date of value is the date of death of the decedent as provided at time of order. This appraisal is prepared using retrospective appraisal methodology. All market data, comparable sales, and market condition analysis reflect conditions as of the effective date.
The scope of this assignment includes:
Limiting condition (unobserved interior): The interior of the subject property has not been inspected. The appraiser has not observed interior condition, room count, finish quality, or any interior characteristics of the property. The value conclusion is therefore subject to the assumption that the interior condition and characteristics are consistent with the exterior condition and with information available from secondary data sources.
Extraordinary assumption (interior condition): The interior condition of the property as of the effective date is estimated based on available secondary data. It is assumed that the interior condition is consistent with the information available and with the exterior condition observed at inspection. If this assumption is later determined to be false, it could alter the appraiser’s opinions or conclusions. Additionally, because the inspection is conducted after the effective date, the condition as of the effective date is assumed to be substantially as estimated at the time of inspection.
The completed appraisal report is delivered as an electronic PDF to the email address provided at checkout within 48 to 72 hours of the completed inspection.
Standard pricing of $350 applies to qualifying single-family homes, townhomes, and condominiums within Arapahoe, Denver, Douglas, Elbert, and Jefferson counties. If your property does not qualify for standard pricing, Great Estates, Inc. will contact you before proceeding.