Real Estate Appraisals


Q. Is there specific FTA language that must be incorporated into contracts for independent appraisal services? If so, where can this language be found?


A.  FTA regards the procurement of real estate appraisal services as one that is subject to the requirements of FTA Circular 4220.1F, being for the acquisition of professional services and not the acquisition of real estate. Real estate acquisitions are not subject to 4220.1F but to FTA Circular 5010.1D. The contract clauses in the FTA BPPM, appendix A.1, would thus apply as appropriate (see instructions for clause applicability in appendix A.1). Beyond these clause requirements, FTA would have no specific contract language requirements. The FTA Circulars 4220.1F and 5010.1D are available online at http://www.fta.dot.gov/laws/leg_reg_circulars_guidance.html
 The BPPM is also available online at:
http://www.fta.dot.gov/funding/thirdpartyprocurement/bppm/grants_financing_6102.html  (Revised: August 17, 2009)