Which of the following is NOT a step in the general overview of the appraisal process?

The appraisal process consists of several systematic steps that help guide appraisers in determining the value of a property. The steps typically include defining the problem, which involves establishing the purpose of the appraisal and the relevant property characteristics. Following this, data collection involves gathering information about the property and the surrounding market, which is critical for forming a valuation opinion. Report writing is the final step, where the appraiser presents their findings in a clear and comprehensive manner.

Market analysis, while a crucial component of the appraisal, is not typically listed as a standalone step in the general overview. Instead, market analysis is integrated within the data collection phase, where appraisers examine market trends, demand, and sales comparisons to support their valuation. This helps appraisers understand how the property fits within the current market context and influences the overall valuation.

By focusing on defining the problem, collecting relevant data, and reporting findings, the appraisal process ensures a thorough and professional approach to property valuation.