Specifications include, but are not limited to: 1. Conduct a physical inspection of the subject properties and building as is where is. 2. Derive an opinion of value for the properties and underlying land. Ensure that the opinion of value is based on a well-supported conclusion of highest and best use and reflect the present “as-is” physical and functional characteristics of the subject building and property. 3. All documents related to the land and building in the Borough’s possession will be shared with the appraisal company. Some of these may not necessarily be relevant. 4. Ensure that the development of the opinion of value conform to the requirements of the Uniform Standards of Professional Appraisal Practice. 5. Research the neighborhood and city factors that might impact the subject property and its value, appeal and marketability. 6. Ensure that all comparable sales utilized in the appraisal report be confirmed by a reliable source. 7. Provide photographs of the subject properties and comparable sales in each report. Provide a location map depicting the location of the subject propertiesin relation to the comparable sales in each report. 8. Provide the assumptions and contingent and limiting conditions under which the report is produced. 9. Identify the client, intended user, intended use of the appraisal report. 10. Identify the subject properties being appraised.
