What is a Complete Summary Narrative?
A. A Complete Summary Narrative is another type of appraisal report used for income/non-income-producing property that contains all three approaches to valuation: income, cost, and sales comparison, in a summarized format. A state-certified general appraiser also includes a narrative summarizing their reasoning and support for their conclusions. Our lenders require this format be used if the loan amount is greater than $1,000,000.
