BRAVE Compliance Checklist

Submitting a BRAVE file that fails validation wastes time for everyone — the appraiser, the lender, and the borrower waiting on loan proceeds. This checklist covers every step you should take before delivering a BRAVE data file to any lender client.

Print this page, save it as a bookmark, or integrate it into your quality control process. Following these steps consistently will reduce your revision rate and build a reputation for reliable data delivery.

Step 1: Verify Property Identification Fields

Review the Property category fields for accuracy and completeness:

Property.Name: Property name matching the report.
Property.AddressStreet, Property.AddressCity, Property.AddressState, Property.AddressPostalCode: Correct and matching the report header.
Property.Latitude and Property.Longitude: Valid decimal coordinates.
Property.Type: Matches the lender's loan file classification. BRAVE covers: office, retail, industrial, multifamily, hospitality, self-storage, special purpose. Mismatches are a common cause of lender rejections.
Value.Date: Matches the effective date of value in your report.

Step 2: Validate Physical Characteristic Fields

Review the Property building and site fields:

Property.GrossBuildingArea and Property.NetRentableArea match your report.
Property.UnitsCount matches the report narrative.
Property.YearBuilt is a valid Int32 year value.
Property.SiteFloodZone matches the FEMA determination in your report.
Property.Zoning matches the report.

Step 3: Check Income Field Mathematics

The 16 Income fields are where most BRAVE files have errors. While the official usebrave.org validator does not enforce cross-field math checks, lenders will review these relationships:

EGI: Income.EffectiveGrossIncome should equal Income.PotentialGrossIncome minus Income.VacancyLoss
NOI: Income.NetOperatingIncome should equal Income.EffectiveGrossIncome minus Income.OperatingExpenses
Income.ReservesIncluded correctly indicates whether reserves are in the expense total

Even though these won't fail the validator, inconsistencies will trigger lender review.

For a detailed breakdown of each income field, see our BRAVE Income & NOI Fields guide.

Step 4: Verify Cap Rate and Value Fields

Cap rate errors are a common BRAVE mistake. The official validator enforces a 0-20% range on Value.CapRate:

Value.CapRate (Overall Cap Rate): Within 0-20% range. Values outside this range will fail the official validator.
Value.DiscountRate and Value.TerminalCapRate: If you performed a DCF, both should be populated.
Implied value check: Income.NetOperatingIncome / Value.CapRate approximately equals Value.IncomeApproach. (Not enforced by validator, but lenders check this.)
Primary Income Valuation Method dropdown: Set to "Direct Cap" or "DCF" as appropriate.

See our BRAVE Cap Rate Fields Explained guide for formatting details.

Step 5: Confirm Valuation Conclusions

Value.ReconciledFinal: Populated with the final reconciled value.
Value.IncomeApproach, Value.SalesApproach, Value.CostApproach: Populated for each approach used.
Both value columns: If your appraisal includes a prospective value, populate the second value column (Prospective Upon Completion) in addition to the As-Is column.
Value.Name and Value.Date: Value scenario label and effective date populated.

Step 6: Cross-Check BRAVE Against the PDF Report

This is the step most appraisers skip, and it causes the most revision requests:

Value conclusions in the BRAVE file match the PDF report exactly.
NOI and income figures match the PDF report exactly.
Cap rate matches the PDF report exactly.
Property type and subtype match the PDF report description.
Effective date matches the PDF report letter of transmittal.

Step 7: Run Automated Validation

Even after manual review, run your BRAVE file through automated validation:

Upload the file to AppraisalAPI.com and review the validation report.
Fix any errors identified.
Re-validate after fixes to confirm all issues are resolved.

Step 8: Final Delivery

Deliver the BRAVE file (XLSX or CSV) alongside the PDF report.
Confirm the file format matches the lender's requirements.
Retain a copy of the BRAVE file in your work file.

Following this checklist consistently will eliminate the vast majority of BRAVE submission errors, ensuring your work meets USPAP and lender-specific requirements. For guidance specific to your lender, explore our bank-specific guides for Bank OZK, JPMorgan, and Wells Fargo. For a step-by-step guide to producing BRAVE files, read how to create a BRAVE file. For a catalog of specific errors and fixes, see our common BRAVE validation errors guide.