If the appraisal has no conditions, the Appraiser must render an as-is value opinion.
If the Appraiser must conclude the report under a hypothetical condition or extraordinary assumption, the Appraiser must report the issues and requirements as one of the following:
- “subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed";
- “subject to the following repairs or alterations (list them) on the basis of a hypothetical condition that the repairs or alterations have been completed”; or
- “subject to a required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair.”