The description of the property should also include the actual physical characteristics (including evidence of deterioration and obsolescence) of the property. This description of the actual condition of the property is important as it should explicitly confirm that the property is appraised in an “as is, where is” condition. If the property is appraised in any other condition than “as is, where is” (such as “improved” or “as completed”), then this hypothetical condition should be clearly described. Also, any difference (including both valuation and physical difference) between this hypothetical condition of the property and the actual condition of the property should be clearly described.