After identifying the purpose of an appraisal, what should the appraiser do next?

After determining the purpose of an appraisal, the next logical step for the appraiser is to identify the data needed to perform the valuation. This process involves gathering relevant information that will contribute to a comprehensive analysis of the real estate being appraised. By identifying the necessary data, the appraiser can ensure that they have all the pertinent details regarding the property, market conditions, and comparable properties that will support a credible and accurate valuation.

This step is crucial as it lays the groundwork for the subsequent stages of the appraisal process, such as finding comparable sales or conducting site visits. Understanding what data is needed influences all areas of the appraisal, including analysis, methodology, and the final conclusions drawn about the property's value. Thus, this step prepares the appraiser for a systematic and informed approach to valuation.