What does the Uniform Residential Appraisal Report not require from the appraiser?

The Uniform Residential Appraisal Report (URAR) has specific requirements to ensure a standardized approach to property valuation. One key aspect is that it focuses on tangible and quantifiable factors that directly impact the property's market value. The appraiser is not required to evaluate subjective measures, such as the quality of local schools, as this is outside the scope of property appraisal focused on physical characteristics, location factors affecting value, and comparable sales.

In contrast, other elements like signing the report, providing details regarding the property’s condition (such as the roof), and reporting previous listings ensure that the appraisal is credible, comprehensive, and fulfills legal and industry standards. These components help establish the appraiser's accountability and provide potential buyers or lenders with necessary insights regarding the property’s value and history.