What is the nature of oral appraisal reports for real property according to appraisal standards?

The nature of oral appraisal reports for real property, according to appraisal standards, emphasizes that they must address substantive matters applicable to the report. This means that when an appraiser delivers an oral report, it is essential to convey the critical elements that contribute to the valuation and the conclusions drawn in the appraisal.

Substantive matters include the underlying assumptions, data analyses, methodologies used, and the rationale behind the appraiser's value opinion. Addressing these matters ensures that the report maintains its integrity and complies with the professional standards required in the appraisal industry.

Providing a thorough understanding of the substantive issues not only supports the credibility of the appraisal but also ensures that clients and stakeholders can make informed decisions based on the appraisal outcome. This approach aligns with the principles of transparency and accountability that are fundamental to the practice of appraisal.