What is the main purpose of writing an appraisal report?

The primary purpose of writing an appraisal report is to convey the appraiser's opinions and findings. This encompasses delivering a detailed analysis of the property being appraised, including its value based on various factors such as the property's features, location, and the current market conditions. The report serves to communicate the appraiser's conclusions and the reasoning behind them effectively to clients and other stakeholders, ensuring transparency and clarity in the valuation process.

The report must detail the methodologies used, the data considered, and the appraiser's thought process, allowing users to understand how the final value was determined. This is crucial for clients, lenders, and regulatory bodies who rely on the appraiser's expertise to make informed decisions regarding property transactions or financing.

While establishing market trends, providing buying recommendations, and complying with legal requirements are important considerations within the appraisal profession, they do not represent the primary purpose of the appraisal report itself. Instead, they often arise as supplementary benefits or actions that stem from the core objective of conveying the appraiser's detailed analysis and findings accurately.