Residential Perspective on Data Collection and Property Description in the Valuation Process

摘要

The discussion in this article considers the third step in the appraisal process, which is related to data collection and property description procedures. Issues addressed include the evolution of raw data to market evidence. The article examines the difference between primary and secondary data as well as situations where primary data becomes secondary information. Finally, requirements for reporting relevant property characteristics and situations with potential for appraisal liability claims arising from alleged improper site research and report preparation are discussed.