What is the correct order of the first two steps in the appraisal process?

The correct order of the first two steps in the appraisal process begins with stating the problem, followed by identifying the data needed. Stating the problem is crucial as it establishes the purpose of the appraisal and delineates the scope of work that the appraiser will undertake. It involves clearly defining what needs to be appraised, the intended use of the appraisal, and any specific requirements that must be met.

Once the problem is articulated, the next step is to identify the data needed to address that problem. This involves determining what information will be necessary to conduct a credible appraisal, assessing the type of property being evaluated, and understanding the relevant factors that will influence its value.

By following this sequence—first clarifying the problem and then pinpointing the data required—a structured approach to appraisal is ensured, which ultimately contributes to a more accurate and reliable valuation outcome.