What could limit the scope of a limited appraisal?

The intended use of the appraisal is a crucial factor in determining the scope of a limited appraisal. A limited appraisal is specifically designed for certain situations where a full appraisal may not be necessary. For instance, if the appraisal is intended for a specific purpose, such as a quick assessment for a loan amount that has already been predetermined, the appraiser may focus only on certain aspects of the property that are relevant to that purpose. This can involve a more streamlined approach, where less information is required compared to a comprehensive appraisal.

In contrast, the other factors mentioned, like the appraiser's qualifications, the property's location, and economic conditions, may influence the appraisal process but do not inherently define the scope. The qualifications ensure the appraiser can accurately perform their duties but do not limit the appraisal's scope in the same way that the purpose does. Similarly, while the property's location and current economic conditions can affect market value or the data available, they won't necessarily narrow the appraisal parameters prescribed for a specific intended use. The intended use directly impacts how the appraisal is conducted and what information is deemed necessary, thus serving as a limiting factor.