What type of report does an appraiser provide after completing the appraisal process?

After completing the appraisal process, an appraiser provides an estimate of property value. This estimate is determined through a variety of methods and techniques, taking into account the property’s characteristics, market conditions, comparable sales, and other relevant factors. The primary focus of an appraisal report is to deliver a defensible valuation that reflects the highest probable price a property would sell for under normal market conditions.

An estimate of property value stands out as the most accurate answer as it directly addresses the appraiser's core function. This type of report is critical for making informed decisions regarding purchases, financing, insurance, or investment analysis.

In contrast, while a legal contract represents an agreement between parties and may be related to a real estate transaction, it does not reflect the appraisal's purpose. A general property assessment typically refers to a broader evaluation often used for taxation purposes rather than specifically determining market value. A comprehensive market analysis, although it may involve a review of market trends and comparable properties, is usually not as detailed or legally binding as an appraisal and may also serve different purposes for real estate professionals.