Which type of appraisal report requires less detail compared to the full appraisal report?

A restricted appraisal report is designed to provide a more concise assessment than a full appraisal report. This type of report includes sufficient detail to convey the appraiser's conclusions but omits some of the extensive supporting information and analysis found in a full report.

Restricted reports are typically intended for specific clients or limited purposes, allowing the appraiser to communicate their findings without expending unnecessary detail that may not be relevant for the intended audience. The streamlined nature of a restricted report serves practical needs while still adhering to the standards expected in the appraisal industry.

In contrast, a full appraisal report contains a comprehensive analysis, including extensive documentation, property descriptions, and a detailed explanation of the methodologies used, which is unnecessary for all situations. This element of conciseness in the restricted report makes it a cost-effective choice for clients who require a valuation without the additional granular detail.