What must be included on an estimate according to appraisal practice?

In appraisal practice, it is essential that the appraiser's license number be included on an estimate. This is important for several reasons. First, including the appraiser's license number provides a means of verifying the qualifications and credentials of the appraiser, which is crucial for establishing the credibility of the appraisal report. It assures stakeholders that the appraisal was conducted by a licensed professional who adheres to the standards and regulations set forth by regulatory bodies.

Moreover, the inclusion of the appraiser’s license number enhances accountability. In the event of disputes or questions regarding the appraisal, having this information readily available facilitates communication with the appropriate licensing authority. This supports a transparent and professional approach to appraisal practices and helps maintain the integrity of the appraisal process as a whole.

Other options may be relevant in specific contexts, but they do not hold the same level of necessity as the appraiser's license number in establishing the legitimacy and reliability of the estimate.