Which document is primarily used to communicate an appraisal's findings?

The appraisal report is the primary document used to communicate the findings of an appraisal. It serves as a comprehensive summary that includes information about the property being appraised, the methodology used to determine its value, and the final estimated value. The report is essential for clients, lenders, and other stakeholders as it outlines the appraiser's analysis and the reasoning behind the conclusion of value, ensuring transparency and understanding of the appraisal process.

In the context of real estate transactions, the appraisal report is crucial for determining loan amounts, influencing purchase decisions, and contributing to negotiations. Its detailed analysis assists parties in understanding how the appraised value was derived and assures that it meets professional standards and regulations.

Other documents, such as the property management agreement, purchase agreement, and market analysis, serve different purposes. The property management agreement outlines the relationship between a property owner and a management company, while the purchase agreement is a contract between buyer and seller detailing terms of a property sale. The market analysis, while helpful in providing insights on market conditions, does not replace the detailed findings and valuation provided in an appraisal report.