What is a likely consequence if a reviewer finds missing legal documents in an appraisal?

When a reviewer identifies missing legal documents in an appraisal, it typically indicates that essential information necessary for a thorough evaluation is lacking. Legal documents can include deeds, zoning ordinances, leases, or other records that establish property rights, restrictions, or financial obligations. Without these documents, the appraisal may not reflect the complete legal context of the property, potentially leading to an incomplete or inaccurate valuation.

Having missing legal documentation can cause uncertainty about the property's legal status and its marketability. This may result in a failure to appropriately assess factors that could impact the value, such as existing liens, easements, or zoning restrictions. Thus, the appraisal may be deemed incomplete or inaccurate due to this lack of crucial information, directly affecting the reliability of the final value conclusion.

While other options suggest varying responses to the missing documents, they do not fully encapsulate the primary concern that arises from such omissions, which is the integrity and completeness of the appraisal itself.