What is required to be in an Appraisal Report regarding effective and report dates?

In an Appraisal Report, it is essential to include both the effective date and the report date. The effective date is when the value conclusion is applicable, indicating the specific point in time that the appraisal reflects. This helps users understand the context of the appraisal value, as property values can fluctuate over time. The report date signifies when the appraisal was completed and made available to the client or intended users. Including both dates ensures transparency and clarity, allowing users to grasp the timing of the valuation process accurately.

The requirement for both dates is rooted in the importance of providing thorough and precise information in appraisal practices. By detailing both dates, the appraiser establishes credibility and facilitates proper interpretation of the appraisal analysis. Thus, mentioning both the effective date and the report date is a fundamental aspect of adhering to professional standards in the appraisal field.