What is the most common type of appraisal?
The most common appraisal report we provide to private individuals for residential property is the General Purpose Appraisal Report (GPAR). This form has multiple options so that it may be used for no-inspection, exterior-inspection, or interior-inspection assignments.
The GPAR form is acceptable to a wide range of entities including the IRS, Immigration and for court assignments. The most common appraisal reports for lending purposes are currently 1004 (single family) and 1073 (condominium) reports, but these forms are not intended for non-lending purposes. We also provide vacant land appraisals and multi-family reports for 2-4 unit properties.