Whats included in a typical appraisal report?
Industry standard forms are used for most residential appraisals, but narrative reports are prepared for complex residential and all commercial properties. All the reports contain facts and analyses of the subject property, the neighborhood, and the market. Most contain exhibits, including photographs of the subject and comparable properties, a detailed scale sketch of the subject, a map showing the subject in relation to the comparables, and a flood plane map showing the subject. All appraisal reports contain a Statement of Limiting Conditions and Appraiser’s Certification.
Industry standard forms are used for most residential appraisals, but narrative reports are prepared for complex residential and all commercial properties. All the reports contain facts and analyses of the subject property, the neighborhood, and the market. Most contain exhibits, including photographs of the subject and comparable properties, a detailed scale sketch of the subject, a map showing the subject in relation to the comparables, and a flood plane map showing the subject. All appraisal reports contain a Statement of Limiting Conditions and Appraiser’s Certification.
