A portable electronic appraisal device, an electronic appraisal system, a computer implemented method, and a computer program product is disclosed. The portable electronic appraisal device includes : a display; a data input module; a location detection module to detect a geographic position; a communications interface which communicates with a real estate database, and retrieves real estate data for a property located at the geographic position; a processor configured to create an electronic appraisal template including a plurality of data fields, the plurality of data fields being automatically populated based on the received real estate data for the property located at the geographic position; and an audit tracking module configured to maintain a record of data initially presented for inclusion in an appraisal report, but ultimately excluded from the appraisal report.