Which documents might an appraiser review as part of their appraisal process?

An appraiser's process involves a comprehensive review of various documents that provide insights into property value, market trends, and other relevant factors. Among these, comparative sales data, property disclosures, and previous appraisals are crucial.

Comparative sales data, often referred to as "comps," allows the appraiser to assess the market by comparing similar properties that have recently sold in the area. This information helps establish a fair market value based on actual transaction prices.

Property disclosures provide important information about the condition and features of the property being appraised, including any known issues or improvements. This knowledge aids the appraiser in evaluating how these factors might impact the property's value.

Previous appraisals can serve as benchmarks for understanding the property’s value history and ensuring consistency in valuation. Reviewing these appraisals can help the appraiser justify their findings based on established values.

While public records of property sales, buyer's financial history, and zoning laws are relevant in different contexts, they do not encompass the holistic approach necessary for a thorough appraisal. Hence, comparative sales data, property disclosures, and previous appraisals represent the most relevant documents in the appraisal process.