Subject-to-Completion is an appraisal conclusion that states the As-Is value would be one number, but the As-Repaired (or As-Completed) value will be a higher number after specified work is completed. Used on every fix-and-flip and new construction appraisal — the ARV is a subject-to-completion estimate. The appraiser revisits at completion to issue a Final Inspection (1004D in URAR terms) confirming the work was completed per scope.
Property Valuation