Who typically requires the use of a property report?

The correct answer is that potential purchasers of real estate typically require the use of a property report. A property report provides vital information regarding various aspects of the property, including its condition, any liens, zoning details, and other important factors that can affect a buyer's decision-making process. This report helps prospective buyers make informed choices about whether to proceed with the purchase, as it outlines potential risks and benefits that may not be immediately apparent.

While other parties such as commercial property investors, appraisers, and property management companies may benefit from property reports, it is the potential purchasers who most commonly need this information in order to assess whether a property meets their needs and to negotiate terms effectively. The property report acts as a critical tool in facilitating transparency and providing clarity during the real estate transaction process, making it invaluable for those looking to buy.