How soon 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, conforming to the standards of professional practice. This requirement ensures that the appraisal process maintains transparency and supports the integrity of the appraisal work. By defining the timeframe as "reasonable," the guidelines allow for some flexibility based on the specific circumstances of the appraisal and the complexity of the report.

In practice, the appraiser is responsible for documenting their work adequately, which includes ensuring that a summary is prepared in a timeframe that reflects good practice and professional standards. This concept emphasizes the importance of maintaining thorough records that can be referred to later if necessary. It safeguards against misunderstandings and potential disputes regarding the content of the oral report and the decisions made based on its information.

Other options suggest specific time constraints that may not accommodate varied professional scenarios effectively, whereas the phrase "within a reasonable time" provides a balance between the need for documentation and practical application in the field.