Extract data from appraisal reports

An appraisal report is a licensed appraiser's written opinion of what a property is worth on a stated date, and a lender will not fund a mortgage without one. Prepared under USPAP, the Uniform Standards of Professional Appraisal Practice that the Appraisal Standards Board of The Appraisal Foundation republishes, the report for a single-family home usually lands on the Fannie Mae Form 1004 Uniform Residential Appraisal Report. Underwriters, review appraisers, and secondary-market buyers read the same conclusions: the opinion of value, the effective date it applies to, the comparable sales that support it, and the adjustments the appraiser made to reach the number. Reasoning behind the value is what the report has to preserve. USPAP recognizes three approaches, and here the sales-comparison approach indicates $585,000, the cost approach $592,000, and the income approach $560,000, weighted 70%, 20%, and 10% to a reconciled opinion of $585,000 as of 2026-06-20. Three comparable sales anchor the sales-comparison approach: 4120 Cedar Avenue sold 2026-04-12 at $575,000, 87 Rosewood Drive sold 2026-03-28 at $602,000, and 15 Palmer Court sold 2026-05-02 at $560,000, each adjusted for size, condition, and location against the 2,100-square-foot subject built in 2004 and rated in good (C3) condition. Reading the report, Talonic returns the subject property and its characteristics, the appraiser and license number, the opinion of value and its effective date, and the client and lender as fields, and keeps the comparable properties, the adjustments, and the valuation approaches as tables whose weights sum to 100%. A report by Karen Whitfield, license CR-004821, for Northwater Bank on a home owned by Elena Vasquez against a $468,000 loan, loads into an underwriting file as structured data. Stated figures are captured as the appraiser wrote them, and Talonic does not second-guess the opinion of value.

What gets extracted from appraisal reports

How extraction works for appraisal reports

Appraisal reports are produced in form-filling software, exported to PDF, and scanned from signed copies, and the narrative sections sit differently on a 1004, a 1073 condominium form, or a commercial narrative. Talonic classifies the report and maps it to the appraisal schema in the Field Registry, which separates the subject-property facts from the appraiser identity, the opinion of value, and the three approaches to value. Comparable sales fill their table with price, date, and price per square foot, the adjustments table records each dollar and percentage adjustment against a referenced comparable, and the valuation-approaches table holds each approach with its indicated value and its weight, checked so the weights total 100% and reconcile to the reported opinion. Effective date and report date are kept distinct. Every value comes back with a per-cell confidence reading and a pointer to the source page following DIN SPEC 91491, so a review appraiser can trace a comparable or an adjustment back to the report. Captured figures stand as stated, and Talonic does not form or challenge an opinion of value.

Sample extraction

A USPAP appraisal on the Fannie Mae Form 1004

{
  "document_number": "APR-2026-3391",
  "document_date": "2026-06-24",
  "property_address": "620 Larkspur Way, Sacramento, CA 95818",
  "property_type": "single_family_detached",
  "appraised_value": 585000,
  "value_as_of_date": "2026-06-20",
  "appraiser_name": "Karen Whitfield",
  "appraiser_license_number": "CR-004821",
  "property_parcel_number": "045-221-018",
  "property_land_area": 7200,
  "property_building_area": 2100,
  "property_year_built": 2004,
  "property_condition": "C3 Good",
  "use_of_property": "Residential, single-family",
  "client_name": "Northwater Bank",
  "borrower_name": "Elena Vasquez",
  "lender_name": "Northwater Bank",
  "loan_amount": 468000,
  "comparable_properties": [
    {
      "comparable_property_id": "COMP-1",
      "comparable_address": "4120 Cedar Avenue, Sacramento, CA",
      "comparable_property_type": "single_family_detached",
      "comparable_sale_price": 575000,
      "comparable_sale_date": "2026-04-12",
      "comparable_building_area": 2050,
      "comparable_price_per_sqft": 280.49
    },
    {
      "comparable_property_id": "COMP-2",
      "comparable_address": "87 Rosewood Drive, Sacramento, CA",
      "comparable_property_type": "single_family_detached",
      "comparable_sale_price": 602000,
      "comparable_sale_date": "2026-03-28",
      "comparable_building_area": 2240,
      "comparable_price_per_sqft": 268.75
    },
    {
      "comparable_property_id": "COMP-3",
      "comparable_address": "15 Palmer Court, Sacramento, CA",
      "comparable_property_type": "single_family_detached",
      "comparable_sale_price": 560000,
      "comparable_sale_date": "2026-05-02",
      "comparable_building_area": 1980,
      "comparable_price_per_sqft": 282.83
    }
  ],
  "property_adjustments": [
    {
      "adjustment_id": "ADJ-2",
      "adjustment_factor": "Gross living area",
      "adjustment_amount": -14000,
      "adjustment_percent": -2.3,
      "comparable_property_reference": "COMP-2"
    },
    {
      "adjustment_id": "ADJ-3",
      "adjustment_factor": "Condition",
      "adjustment_amount": 8000,
      "adjustment_percent": 1.4,
      "comparable_property_reference": "COMP-3"
    }
  ],
  "valuation_approaches": [
    {
      "approach_name": "Sales comparison approach",
      "approach_value": 585000,
      "approach_weight_percent": 70,
      "approach_description": "Three closed comparables adjusted for size, condition, and location"
    },
    {
      "approach_name": "Cost approach",
      "approach_value": 592000,
      "approach_weight_percent": 20,
      "approach_description": "Site value plus depreciated replacement cost"
    },
    {
      "approach_name": "Income approach",
      "approach_value": 560000,
      "approach_weight_percent": 10,
      "approach_description": "Market rent capitalized at the local gross rent multiplier"
    }
  ]
}

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