When must a written summary of an oral appraisal report be added to the appraiser's workfile?

A written summary of an oral appraisal report must be added to the appraiser's workfile within a reasonable time after the issuance of the oral report. This requirement ensures that there is a clear, documented reference of the appraisal findings and conclusions presented orally. Having this summary in the workfile helps maintain a complete record of the appraisal process and can be essential for compliance with regulatory standards, allowing for transparency and consistency in appraisal practices.

This timeframe allows appraisers the necessary period to properly document their oral findings without requiring them to rush the process immediately before or at the time of the report, which could compromise the quality of the summary. Proper documentation is crucial in the appraisal profession, as it supports the credibility of the appraiser's conclusions and provides a reference point for future evaluations or reviews.