Applicant
Date
Grader
The following are guidelines for consideration in grading the appraisal report submitted for
(check one):
( ) Accreditation
( ) Advance to Professional
Grading Categories
TITLE PAGE
LETTER OF TRANSMITTAL
TABLE OF CONTENTS
SUMMARY OF SALIENT FACTS
ASSUMP. & LIMIT. CONDITIONS
OBJECTIVE DATE & OWNERSHIP
DEFINITION OF VALUE
PROPERTY RIGHTS APPRAISED
LEGAL DESCRIPTION
AREA ANALYSIS CONSIDERATIONS
Physical
Social
Economic
Governmental
Remarks
SEE NOTE BELOW
Points Deductions
NOTE: The first 13 lines in this section are required. NO credit is given for their presence, BUT rather a loss of points for their absence or inadequacy -- Possible minus 26 points total (2 points per line).
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Grading Categories
PROPERTY DESCRIPTION
Remarks Points Deductions
Land
Location, Access, Land Use & Tenure
Terrain & Topography
Soils
Vegetation
Water Rights, Irrigation Carrying Capacity --
Crop Yields, Farm/Ranch Operation
Utilities
Taxes & Assessments
Hazards & Detriments
Zoning, Easements, Restrictions
Climate Considerations
Crop Allotments
Land Improvements
Fences, Wells, Corrals, Windmills, Pumps, Dams
5
5
5
5
5
5
5
5
5
5
5
5
Buildings
Quantity, Quality, Condition, Effective Age, Remaining
Economic Life & Functional Utility of Each
HIGHEST AND BEST USE
Uses for which Property is Adapted
Legal & Permitted Uses
10
Market Demand for Potential Uses
Most Probable Use of Property
Definition
DISCUSSION OF APPRAISAL PROCESS
COST APPROACH
4
4
4
4
4
*
Building Cost New & Definition of Cost Used
Source of Cost Data
4
4
Calculations 8
* This category is required. There is meant to be no credit for its presence, but rather a loss of up to 5 points for its absence or inadequacy.
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Grading Categories
COST APPROACH (Continued)
Estimate of Depreciation
Physical Deterioration
Definition
Explanation
Calculation
Functional/External Obsolescence
Definition
Explanation
Calculation
Estimate of Land Value
Comparable Sales Presentation
Tabular Analysis & Value Derivation
Value by Cost Approach & Its Validity
INCOME CAPITALIZATION APPROACH
Income Estimate
Crop Share/Comparable Rentals
Tabular Analysis of Gross Income
Conclusion of Gross Income
Expense Estimates
Itemized Expenses
Explanation of Expenses
Conclusion
Capitalization Rate Selection
Comparable Sales Presentation
Tabular Analysis & Rate Derivation
Conclusion of Capitalization Rate
Value by Income Approach & Its Validity
SALES COMPARISON APPROACH
Comparable Sales Presentation
Courthouse Date
Price, Terms, Verification
Description, Analysis & Allocation
Remarks
Page -3-
Points Deductions
10
10
5
10
10
5
10
10
10
20
5
5
20
4
4
8
4
8
8
8
20
20

Grading Categories Remarks Points
SALES COMPARISON APPROACH (Continued)
Sale to Subject Comparison
Selection of Variables/Value Factor
Explanation of Adjustments
Tabular Comparison Presentation
Value by Sales Comparison Approach & Its Validity
RECONCILIATION
Cost Approach Discussion
Income Approach Discussion
Sales Comparison Discussion
Final Conclusion
CERTIFICATION
ADDENDA
Maps
Subject Land Features
Subject Soils
Location Map of Subject & Comparables
Plat Maps of Comparable
Photos
Subject Land Features
Subject Improvements
Comparable Sales
Qualifications of Appraiser
CLARITY, READABILITY, PROFESSIONALISM
Format & Organization 2 5
Grammar, Punctuation, Spelling 15
Sentence Structure & Writing Style 1 0
5
5
5
5
5
5
10
5
5
5
5
15
20
15
20
Deductions
TOTAL POSSIBLE
POINTS
LESS TOTAL
DEDUCTIONS
TOTAL SCORE
500
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*
**
375 POINTS ARE PASSING
Regardless of overall score, a report must also attain a minimum of 75 percent (75 points out of the
100 allotted) in each of the three approaches to be acceptable for a passing grade. A grade below
75 percent in any one approach is a cause for failure of the report.
Considering the present grading sheet, the same grading categories will be utilized and the point distributions will be as follows:
First 13 Lines*
Property Description Section
Highest and Best Use
Discussion of Appraisal Process**
Required
70 Points
20 Points
Required
100 Points Cost Approach
Suggested distribution as per grading sheet
Income Approach
Suggested distribution as per grading sheet
100 Points
Direct Sales Comparison Approach
Suggested distribution as per grading sheet
Reconciliation
Suggested distribution as per grading sheet
Certification**
100 Points
20 Points
Maps, Photos, Exhibits
Suggested distribution as per grading sheet
Qualifications of Appraiser**
Required
40 Points
General - Clarity, Readability, Professional
Suggested distribution as per grading sheet
TOTAL
Required
50 Points
__________
500 Points
NO credit for their presence, BUT rather a loss of points for their absence or inadequacy —
Possible minus 26 points total.
NO credit for its presence, BUT rather a loss of points for its absence or inadequacy —
Possible minus 5 points.
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