Which information is typically included in a narrative appraisal report?

A narrative appraisal report is comprehensive and includes detailed analysis, methodology, and rationales that underpin the appraiser's conclusions. This depth of information is essential for clearly communicating how the appraiser arrived at their final valuation. The inclusion of detailed explanations allows stakeholders, such as lenders, potential buyers, and legal professionals, to understand the thought processes, assumptions, and data that informed the valuation, thus providing transparency and credibility to the appraisal.

In contrast, while visual aids and photographs can enhance the report by providing visual context, they do not encompass the central analytical content expected in a narrative appraisal. A simple summary of the property's purchase history is usually not comprehensive enough to serve as a standalone appraisal report; it lacks the depth required for valuation analysis. Market trends and forecasts might be part of a broader market analysis, but a narrative report focuses more on the specifics of the property being appraised rather than projecting future conditions.