When should an appraiser consider using a restricted use appraisal report?

A restricted use appraisal report is specifically designed for situations where the intended use is limited to certain specified parties. This type of report is not meant for general distribution and is typically tailored to meet the specific needs of the client or a limited audience.

In cases where only specific parties will be using the report, this format effectively communicates the necessary information while limiting liability and expectations. Since the data and conclusions may not be as comprehensive as those in a broader appraisal report, it allows the appraiser to focus on the needs of the client without the need for excessive detail that might be unnecessary for those not involved in the transaction.

The other options are more aligned with scenarios that require different types of appraisal reports. For example, a detailed analysis would generally call for a comprehensive report rather than a restricted use one. Legal requirements could impose a standard that is broader than what a restricted use report provides, and public auction appraisals often necessitate wide dissemination of information, which is contrary to the limited nature of a restricted use report.