What is an Appraisal Report?

An appraisal report serves as the formal documentation of the appraiser's conclusion regarding the value of a property. It is specifically designed to convey the results of the property value estimation process, providing a detailed account of the methodology, data, and reasoning behind the final valuation. This report typically includes information such as property characteristics, comparable sales, and the context of the real estate market at the time of the appraisal.

While other options mention various aspects of real estate, they do not define the specific nature of an appraisal report. For instance, analyzing market trends or evaluating neighborhood values are broader activities that may inform the appraisal process but do not represent the conclusive output that an appraisal report produces. Similarly, an agreement between a buyer and seller does not pertain to the valuation of a property but rather to the transactional aspect of real estate. Therefore, the definition of an appraisal report as the result of estimating a property's value precisely captures its purpose and content.