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Scope of Work
Should address:
Purpose/function of appraisal.
Definition of estate to be appraised.
Definition of fair market value, if applicable.
Assumptions and limiting conditions.
§ 24.103(a)(1)-(5) requirements.
Notes:
The scope of work statement should include the purpose and/or function of the appraisal, a definition of the estate being appraised (if it is fair market value, include its applicable definition), and the assumptions and limiting conditions affecting the appraisal.
The scope of work should consider the specific requirements in the URA definition of "appraisal," § 24.103(a)(1) through § 24.103(a)(5). and § 24.103(b), and address each as appropriate.
To provide feedback, suggestions or comments for this page, contact Arnold Feldman arnold.feldman@fhwa.dot.gov
