Report

A report is the written communication through which an appraiser presents the results of an appraisal assignment, including the analysis, opinions, conclusions and supporting information. Its content must provide the information necessary for intended users to understand the appraisal and its basis.

Residential lending assignments commonly use a standardized form, while complex and commercial assignments may use narrative or other report formats. The appropriate format and level of detail depend on the assignment, intended use and applicable reporting requirements.

An appraisal report identifies key assignment elements, such as the client and intended users, intended use, subject property, type and definition of value, effective date, scope of work, analysis and conclusions. It also includes the appraiser's certification and required disclosures. Clear reporting helps intended users to understand how the appraiser reached the value conclusion.