The Appraisal Date, or Effective Date of Appraisal, is the specific date on which the appraised value of a property is based. This date can impact the value derived in the context of historical price trends, market conditions, and other relevant factors.
The 'Date of Appraisal' refers to the specific date on which the value of a property is determined by an appraiser. It is a crucial component in real estate transactions as it establishes the value of a property at a specific point in time, impacting sale prices, taxes, and loan terms.
The Effective Date of the Appraisal, often referred to as the Appraisal Date, is the specific point in time at which the value of the property is assessed. This date is crucial for reflecting the property's market conditions and physical state at that particular time.
The Report Date is the date an appraisal report was prepared, typically reflecting the date the transmittal letter was assembled. It contrasts with the Appraisal Date, which is often the effective date of the valuation.
