STANDARD 2 sets forth requirements for what aspect of an appraisal?

STANDARD 2 of the Uniform Standards of Professional Appraisal Practice (USPAP) specifically addresses the requirements related to the content of appraisal reports. This standard outlines how appraisers must communicate their findings, including the procedures followed, the analyses conducted, and the conclusions reached. It ensures that reports provide sufficient detail to support the appraiser’s opinion of value and allows users to understand the reasoning behind the value conclusion.

The requirement for appraisal report content is critical as it not only communicates the appraisal results but also upholds the integrity and credibility of the appraisal profession. By adhering to this standard, appraisers contribute to transparency and accountability in their work, which is essential for maintaining trust between appraisers, clients, and stakeholders in the market.

Understanding the specific content requirements helps appraisers ensure their reports effectively convey necessary information, leading to better decision-making by clients and other report users.