BRAVE Valuation Fields Guide

Valuation Fields in the BRAVE Standard

The Value category (24 fields) is where every other section of the BRAVE file comes together. These fields report your final real estate appraisal value opinions — the numbers that lenders use to calculate loan-to-value ratios, set loan amounts, and make credit decisions. BRAVE was created by Valcre as an open industry standard.

Because these fields directly drive lending decisions, they receive the most scrutiny during review. For the complete field reference with all 99 official field names, see our BRAVE 99-Field Reference.

A key structural feature: the Value section supports two value columns — "As-Is Market Value" and "Prospective Upon Completion" — allowing you to report both scenarios in a single BRAVE file.

Value.ReconciledFinal: Final Reconciled Value

The most important field in the BRAVE standard. This is the appraiser's final reconciled opinion of market value.

Format: Decimal. Enter as a raw number without formatting characters. A value of $12,500,000 is entered as 12500000.

Value.IncomeApproach: Income Approach Value

The value indicated by the income capitalization approach before reconciliation with other approaches.

Format: Decimal.

When required: Whenever the income approach is applied. For most income-producing properties, this is essential.

Value.SalesApproach: Sales Comparison Approach Value

The value indicated by the sales comparison approach before reconciliation.

Format: Decimal.

Value.CostApproach: Cost Approach Value

The value indicated by the cost approach, with supporting detail fields:

• Value.CostDirect — Direct (hard) costs
• Value.CostIndirect — Indirect (soft) costs
• Value.CostApproachProfit — Entrepreneurial profit
• Value.CostSiteImpv — Site improvements value
• Value.CostDepreciation — Accrued depreciation

Value.LandSalesApproach: Land Value

Land value via sales comparison approach.

Value.Name and Value.Date

• Value.Name — Labels the value scenario (e.g., "As-Is Market Value" or "Prospective Upon Completion")
• Value.Date — Effective date of the value opinion (DateTime format)

Value.Interest: Property Interest Appraised

The property interest valued (Fee Simple, Leased Fee, etc.).

Format: String.

Additional Value Fields

• Value.InsurableCost — Insurable replacement cost (Decimal)
• Value.FFE — Furniture, fixtures, and equipment value (Decimal)
• Value.ExcessLand — Excess land value (Decimal, manual entry)
• Value.BEV — Business enterprise value (Decimal, manual entry)
• Value.BulkMarketValue — Bulk/portfolio market value (Decimal, manual entry)
• Value.AggregateRetailSum — Aggregate of individual retail unit values (Decimal, manual entry)

The four manual-entry fields (ExcessLand, BEV, BulkMarketValue, AggregateRetailSum) are not auto-calculated by the validator.

Validation Notes

The official usebrave.org validator checks data types (all value fields must be valid Decimal numbers) and range plausibility (e.g., Value.CapRate must be 0-20%). However, the validator does not currently enforce cross-field logic such as:

• NOI / cap rate approximating the income approach value
• Value hierarchy consistency between scenarios

These are good practices to verify manually before submission, as lenders will review for consistency even if the validator does not enforce it.

Cap rate consistency: If Value.CapRate and Income.NetOperatingIncome (NOI) are both populated, the implied value (NOI / cap rate) should approximate Value.IncomeApproach. Significant deviations suggest a DCF rather than direct capitalization was used — which is acceptable, but should be documented in the report.

Validate all valuation fields before submission using AppraisalAPI.com. For income field formatting, see our BRAVE Income & NOI Fields guide. For a complete pre-submission process, follow our BRAVE compliance checklist. For an overview of all 99 fields, read the 99 fields of BRAVE.