What is generally included in a standard appraisal report?

A standard appraisal report typically includes a comprehensive analysis of the property's condition and its features. This is crucial because the appraisal's primary purpose is to determine the property’s value based on its physical characteristics and the condition it is in. An appraiser evaluates various aspects, such as the size, layout, age, and overall condition of the structure, as well as any improvements or repairs that have been made. This detailed assessment helps ensure that the valuation reflects an accurate representation of what the property could potentially sell for in the current market.

While assessments of the neighborhood and comparisons to the sale price may appear relevant, they are not always included as core elements of a standard appraisal report. The neighborhood assessment can be a part of the appraisal process to contextualize the property's value, but it's not a necessary component of every report. Similarly, while appraisals may consider comparative sales data, the primary focus remains on the property itself, particularly its condition and features, which fundamentally influence its market value.