Property Valuation
What is a 'restricted use appraisal' (or limited appraisal) in Delaware?
AAn appraisal restricted to residential properties under $500,000
BAn appraisal report with a restricted scope of use — intended for a single, specific user — which may have fewer details and is not appropriate for broader distribution✓ Correct
CAn appraisal limited to using the sales comparison approach only
DAn appraisal performed only for tax appeal purposes
Explanation
A restricted use appraisal report (under USPAP) provides a limited summary for a single named client/user. It contains fewer details than a standard summary report and is inappropriate for use by other parties (e.g., courts, other lenders). USPAP requires the report to state prominently that it is restricted to the named client's use only.
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