Narrative versus Form Appraisals


Appraisal forms were developed for single-family residential home appraisals over time to meet government reporting requirements.  While the forms have changed over time, a standard single-family residential form is still generally accepted by most lenders and government agencies.


Small investment properties are also, at times, appraised using standard forms when a form format is requested by a client.  Form appraisals of this type are not popular with appraisers since they often ask for property detail that is not available or is difficult to obtain.  Forms leave little flexibility for the appraiser to solve the appraisal problem.


Large-scale commercial properties, vacant land and complex properties are generally appraised using a narrative format.  Appraisers are given the flexibility to solve appraisal problems using their own constructs and formats.  Most reports written and they are completed at a summary or a complete detail level.


Narrative reports generally provide detail regarding the state of the local economy, the market area, the sub-market into which the subject falls and the immediate location.  Also provided a complete highest and best use analysis that is not required in form appraisals.


Narrative appraisal reports are summary or self-contained reports that include a great deal of detail regarding a subject property and each of the three appraisal methodologies used to analyze it.  Unlike form reports that provide a set of predetermined checkbox answers, narrative reports are free form and provide an appraiser with all of the flexibility needed to describe and analyze a property. 


Contact us with your questions or concerns regarding narrative or form appraisal reports or regarding your specific appraisal assignment in Nevada at 1-702-568-6699.  We can also be e-mailed at  



Copyright 2007 Horizon Village Realty & Appraisal

Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.