Fall 2001, Vol 26, No 3

Abstract: This manuscript explores the relative importance of formal written appraisal documentation when dealing in international real property transactions. A survey instrument was employed to gather responses from industry professionals. The authors also look to a review of literature within the field relative to international valuation issues and the relevant literature in place as to the reliance on appraisals and/or other valuation techniques. The findings of this research reveal, that while the appraisal document is an important element in the investment decision-making process, the opinions between appraisers and non-appraisers vary significantly.