When reporting an appraisal, which two dates must be included?

In reporting an appraisal, including both the effective date and the report date is essential. The effective date refers to the point in time at which the value conclusion is applicable, representing the market conditions that apply to the property being appraised. It is crucial for users of the appraisal report to understand the timeframe of the assessed value, as markets can fluctuate significantly over time.

The report date, on the other hand, is the date on which the appraisal report is completed and delivered to the client. It indicates to the user when the report was prepared and can help contextualize the information provided within, particularly in fast-moving markets.

Including both dates ensures clarity and accuracy in communication and helps establish the relevance of the valuation given the timing of market conditions versus the delivery of the report. This practice adheres to the professional standards outlined in the Uniform Standards of Professional Appraisal Practice (USPAP), which stresses the importance of transparency and diligence in the appraisal process.