What is a property report?

A property report is a comprehensive document that provides essential information about a property, including details necessary for potential buyers, investors, or renters. This type of report typically includes mandatory disclosures required by federal and state laws, which can cover aspects like zoning, environmental considerations, and any liens or encumbrances on the property. By ensuring that such information is communicated, property reports aim to protect consumers and promote transparency in real estate transactions.

In contrast, the other choices do not capture the full scope and purpose of a property report. While summarizing sale prices or detailing a standard appraisal report can provide valuable information, they do not convey the legally mandated requirements that encompass a complete property report. Additionally, focusing solely on tenants' payment history would narrow the scope excessively, addressing only a single aspect of property management rather than the broader overview intended by a property report.