Part 2: Prepare residential sales appraisal report

The client has agreed to proceed with the property appraisal. You must now perform a market appraisal on the clients' home and prepare the sales appraisal report.

The inspection must be conducted in an actual property. This may include your house/unit, your friend's/relative's house/unit.Discuss with your assessor to find out all acceptable options for inspection to occur.Please note that the selected property must be in the same geographical area as the commercial property you will inspect in your next assessment (Assessment Event 3).

1. Property inspections
2. Before inspection, you need to verify the ownership of the property through a property database (as advised by your assessor). You must ensure to include this information in theResidential property inspection form in Task 3 below.You will also need to collate all required documents to complete an appraisal for this property.
3. In a separate documentidentify the regulatory and legislative requirementsthat were applied in the property appraisal process. (Estimated word limit - 420 to 460 words)
4. Inspect the residential property and location and complete theResidential property inspection form by applying regulatory and legislative requirements.