Which data is commonly included in a property appraisal report?

A property appraisal report is designed to provide a comprehensive assessment of a property's value based on several key elements that contribute to its market worth. This includes a detailed property description that outlines the characteristics and features of the property, which is essential for establishing its context within the market.

The valuation approaches are critical as they represent the methodologies used to determine value, such as the cost approach, income approach, or sales comparison approach. Each method provides different insight and contributes to a well-rounded appraisal. Comparable sales data, or "comps," are particularly important as they analyze recent sales of similar properties in the area, enabling the appraiser to gauge what buyers are willing to pay.

Additionally, a market analysis helps appraisers understand prevailing trends and economic factors impacting the local real estate market, ensuring that the appraisal reflects current conditions. By combining these aspects, the appraisal report provides an accurate and reliable estimation of the property's value.

Other options, while they touch upon relevant topics for real estate, do not contain the fundamental components required in a formal property appraisal report. This distinction reinforces why the inclusion of property description, valuation approaches, comparable sales, and market analysis is crucial to delivering an effective appraisal.