UAD 3.6 Uniform Residential Appraisal Reports can be made as is, subject to completion per plans, subject to inspection, and subject to repair.
The condition of "as is" is mutually exclusive with respect to the other three conditions. In other words, a report that is made as is cannot also be subject to completion per plans, subject to inspection, or subject to repair.
However, a report can be made subject to any combination of completion per plans, inspection, and/or repair, as appropriate.
Defects, Damages, and Deficiencies
Throughout the UAD 3.6 URAR, there are areas where defects, damages, or deficiencies of the subject can be described. Each defect, damage, or deficiency requires you to indicate what action you recommend be taken, corresponding to each possible report condition.
Indicating that you recommend completion, inspection, or repair for any defect, damage, or deficiency requires that the report now be made subject to the corresponding condition.
Market Value Condition
The Market Value Condition field in the Reconciliation section of the report allows you to indicate whether the report is being made as is, subject to completion per plans, subject to inspection, or subject to repair.
If you indicate that the report is being made as is, any defects, damages, and deficiencies listed in the report must have a recommended action of "None."
If you indicate that the report is being made subject to completion per plans, there either should not be any defects, damages, or deficiencies listed in the report, or they should have a recommended action of "Completion."
If you indicate that the report is being made subject to inspection, you must have at least one defect, damage, or deficiency listed in the report with a recommended action of "Inspection."
If you indicate that the report is being made subject to repair, you must have at least one defect, damage, or deficiency listed in the report with a recommended action of "Repair."
Client Requested Conditions
If your client requests additional conditions and corresponding opinions of value, you can include them in the Reconciliation section.
For example, your report might need to be made subject to inspection or subject to repair based on your observations of the property's condition, but your client may have requested the "as is" value. Per the UAD 3.6 specification, if you recommend inspection or repair for any defect, damage, or deficiency, the report must now be made subject to that same condition.
However, you can use Client Requested Conditions to also provide the as is value in the same report.
1. In the Reconciliation section, check "Yes" for Client Requested Conditions.
2. Select Add Condition.
3. Indicate the Value Condition, Marketing or Exposure Time, Duration, and Alternate Opinion of Value.
If you need to provide additional opinions of value, repeat steps 2 and 3 as necessary.
