Intended User
The client and any other party the appraiser identifies, at the time of the assignment, as a user of the report. Intended users are entitled to rely on the appraisal; unnamed third parties generally are not.
Related Terms
Client
The party who engages the appraiser for an assignment.
Intended Use
The use or uses of an appraiser's reported appraisal or appraisal review as identified by the appraiser based on communication with the client at the time of the assignment.
Scope of Work
The type and extent of research and analysis performed in an appraisal assignment.
More in Appraisal Process
View allEffective Date (Date of Value)
The date on which the appraiser's opinion of value applies.
Extraordinary Assumption
An assumption that is directly related to a specific assignment and, if found to be false, could alter the appraiser's opinions or conclusions.
Hypothetical Condition
A condition that is contrary to known fact but is assumed for the purpose of analysis.
As-Is Value
The value of a property in its current physical condition, as of the effective date of the appraisal, without any hypothetical conditions or extraordinary assumptions about future improvements or changes..