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"
}
]
}Frequently asked
Does it capture all three approaches to value and their weights?
Yes. The sales-comparison, cost, and income approaches are each captured with an indicated value and a weight, and the weights are checked to total 100% and reconcile to the reported opinion, here $585,000 weighted 70/20/10.
How are the comparable sales and adjustments captured?
Each comparable sale is a row with its price, sale date, building area, and price per square foot, and each adjustment is captured with its dollar and percentage value against a referenced comparable, so the appraiser reasoning survives as structured data.
Does it keep the effective date separate from the report date?
Yes. The effective date the value applies to and the date the report was signed are captured as distinct fields, since USPAP treats them separately and a retrospective valuation can carry an effective date well before the report date.
Does Talonic judge whether the value is correct?
No. Talonic returns the appraiser stated opinion, comparables, and adjustments as written and does not form its own opinion of value or challenge the reconciliation.
What fields are extracted from appraisal reports?
Talonic returns appraisal reports as schema-validated, typed fields. Common fields include property_address, appraised_value, value_as_of_date, appraiser_name, and more, each normalized (dates to ISO 8601, amounts as numbers) and mapped to a stable key so the output shape stays the same across layouts.
How accurate is extraction from appraisal reports, and how is confidence reported?
Every extracted cell carries a confidence score from 0.0 to 1.0 and a provenance pointer back to the source page and region, so low-confidence values can be reviewed against the original before the data is trusted downstream. There is no single accuracy number: confidence is reported per field so you can gate on it.
Can I use appraisal reports extraction in production?
Yes. The same engine behind this guide is available as a production REST API and Node SDK with sync, async, and streaming modes, schema versioning, signed webhooks, and EU-resident processing. Start free with an API key, then scale on usage-based pricing.
What does it cost to extract data from appraisal reports?
There is a free tier for prototyping and agent evaluation with no credit card. Paid usage is credit-based at 1,000 credits per euro: page ingestion is 100 credits per page and registry-resolved queries are free. See talonic.com/pricing for current rates.
Ready to extract from your own appraisal reports?
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- DIN SPEC 91491 co-author
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Author note
Reviewed by Talonic engineering, real estate schema review · last reviewed 2026-07-08