Are Property Appraisals Public Record?
Understand the privacy of property appraisals, how to obtain your own report, and what property value information is publicly accessible.
A property appraisal offers a professional opinion regarding a property’s value, typically prepared by a licensed appraiser. These assessments are usually conducted for purposes such as facilitating real estate transactions, securing financing, or supporting property tax appeals. The appraisal provides an unbiased estimate of a home’s market value.
Appraisal Confidentiality
A property appraisal is generally considered a private document, not a public record. The report is commissioned by a specific party, such as a lender, buyer, or seller, for a particular transaction, making that party the client who owns the report. The Uniform Standards of Professional Appraisal Practice (USPAP) includes a confidentiality rule that prohibits appraisers from disclosing assignment results or confidential information to anyone other than the client and other authorized parties.
Confidential information, as defined by USPAP, includes data identified by the client as confidential and not available from other sources, or information classified as confidential by law. While physical characteristics of a property, such as its existence or square footage, are generally not confidential because they are publicly observable facts, the appraiser’s opinions and conclusions are protected.
Accessing Your Own Appraisal Report
If you commissioned the appraisal, such as for a mortgage application, refinancing, or a private sale, you are the client and have the right to receive a copy of the report. Lenders, who often act as the primary client in mortgage-related appraisals, are required by law to provide you with a free copy of the appraisal and any other written valuations. This copy must be provided promptly upon completion or no later than three business days before closing, whichever occurs earlier.
You can obtain your report directly from your lender or, if you hired the appraiser independently, from the appraiser themselves. Real estate agents may also facilitate the receipt of the report if authorized by the client. The cost of an appraisal, typically ranging from $500 to $800, is usually borne by the borrower, even though the lender orders it.
Seeking Appraisal Information for Other Properties
Actual appraisal reports for properties you do not own are generally not publicly accessible due to the confidentiality rules governing appraisals. Direct access to another property’s appraisal is nearly impossible without the explicit permission of the current owner or involvement in a transaction where the appraisal is shared. The appraiser’s ethical obligations under USPAP restrict them from sharing a report with unauthorized third parties.
There are limited exceptions where appraisal information might become publicly available, such as through specific court orders in legal disputes like eminent domain proceedings or divorce cases. These situations are uncommon and do not represent typical avenues for public lookup. While a seller might choose to share an appraisal with a prospective buyer during a real estate transaction, there is no obligation to do so.
Public Property Value Data
While confidential appraisal reports are not public, various sources of public data can offer insights into property value. Property tax assessments, for instance, are public records accessible through local county assessor’s or tax collector’s offices. These assessments are used for calculating property taxes and may not always align precisely with current market value.
Recorded deeds and sales data are also publicly available through county recorder’s or clerk’s offices. These records typically include the sales price, allowing for analysis of recent transactions in an area. Information from Multiple Listing Services (MLS), while generally restricted to licensed real estate professionals, is often aggregated and made available on public real estate websites. These platforms provide comparative sales data and property characteristics, which can be useful for general market analysis.
Building permits and zoning information are also public records. These provide details on property improvements or restrictions that could impact value.