This document establishes the scope of work, intended use, intended users, and assignment conditions for a Full Interior/Exterior 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 full appraisal prepared under Uniform Standards of Professional Appraisal Practice (USPAP) Standards 1 and 2 by Russell Harrist, Colorado Certified Residential Appraiser and Certified Probate Expert (CPE). Every assignment is handled personally by Russell, with no subcontracting, no handoffs.
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.
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. The IRS is an intended user for assignments involving federal estate tax reporting.
No other parties are intended users. Third parties who receive a copy of this report without authorization are not intended users and may not rely on the appraisal for any purpose.
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 they existed as of the effective date, not the date of inspection or the date the report is written.
The scope of this assignment includes:
Required disclosure: Because the inspection is conducted after the effective date of value (the date of death), the physical condition of the property as of the effective date must be estimated. It is assumed that the condition of the property as of the effective date was substantially as observed at the time of inspection, with appropriate adjustments noted where known differences exist. This extraordinary assumption is necessary to complete the assignment. If it is later determined to be false, it could alter the appraiser’s opinions or conclusions.
This appraisal is subject to the standard limiting conditions applicable to residential appraisals prepared under USPAP. The appraisal is not a home inspection and does not evaluate structural integrity, environmental conditions, code compliance, or the operational status of mechanical systems. The value conclusion is based on information available as of the effective date and is subject to the assumptions and conditions stated in the report.
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. The report is the work product of Great Estates, Inc. and is prepared for the intended use and intended users identified above.
Standard pricing of $550 applies to single-family homes and townhomes of approximately 3,500 square feet above grade or less, and condominiums of approximately 2,000 square feet above grade or less, on lots of one acre or less, within Arapahoe, Denver, Douglas, Elbert, and Jefferson counties. Modular and manufactured homes qualify at standard pricing.
If your property does not qualify for standard pricing, Great Estates, Inc. will contact you before proceeding and may offer a revised fee or a refund if the assignment cannot be completed at the standard fee.