Single-Family Residential Appraisal (1004)
(1004) w/ Rent Schedule (form 1007) & Operating Income
Statement (form 216).
Single-Family Residential Appraisal (2055) Interior or Exterior
Single-Family Residential Appraisal (2075) Exterior
Manufactured Homes (1004C)
Two-to-Four Unit Residential Appraisal (1025)
Condominium Appraisal (1073 and 1004)
Single-Family
Residential Appraisal (1004)
This report is completed on the
URAR form 1004 and provides the benefit of a full interior and exterior inspection
of the subject property. This report is used to estimate the market value
of the subject property as defined in Uniform Standard of Professional Appraisal
Practice (USPAP), and is completed in compliance with customer guidelines.
The product includes the following attachments: a completed URAR form, subject
property photos including front, rear, street scene and any amenities substantially
affecting marketability and/or value, comparable sales photographs, flood
map if property is located in a flood prone area, a floor plan sketch with
exterior dimensions and gross living area calculations, location map showing
accurate locations of the subject and all sales utilized in the report and
appropriate certifications and limiting conditions.
Single-Family
Residential Appraisal, Non-Owner Occupied (1004)
This report is similar
in all respects to the standard Single Family Residential Appraisal with the
following additions: A completed Single Family Rent Schedule (form 1007) and
an Operating Income Statement (form 216).
Single-Family
Residential Appraisal (2055) Interior or Exterior
This
report is designed as a USPAP-compliant report form allowing both full interior
and exterior inspection appraisals, as well as for exterior-only inspections
of single-family detached, attached, PUD, and condominium properties. This
report does not include reporting of the Cost and Income approaches to value.
The report includes appropriate certifications and limiting conditions that
invoke the Departure Provision of USPAP in omitting considerations of these
approaches to value. The interior inspection appraisal reported on form 2055
includes all attachments listed in the standard single-family appraisal product.
Single-Family
Residential Appraisal (2075) Exterior
Manufactured
Homes (1004C)
Appraisals of manufactured
homes, any dwelling unit built on a permanent chassis and attached to permanent
foundation, require the attachment of form 1004C. All manufactured home appraisals
must be accompanied by the 1004C. Form 1004C will help to ensure that the
appraiser inspected, considered, and/or reported (as applicable) the appropriate
information including, but not limited to: manufacturer’s name, trade or model
name, year of manufacture, serial number, certification label number(s) from
either the HUD date plate or certification label(s), type of foundation and
utility connections, detailed and supported cost approach, opinion of the
market value of the site and the property’s conformity to the neighborhood.
Two-to-Four
Unit Residential Appraisal (1025)
Appraisals of two-to-four
unit residential properties are reported utilizing the Small Residential Income
Property Appraisal Report. This report provides analysis of competitive listings,
cost approach, an analysis of competitive rents, and a sales comparison analysis.
Included in the attachments is a completed operating income statement. Other
attachments in a two-to-four unit appraisal are: subject property photographs
including a front, rear and street scene, photographs of the comparable rentals
and comparable sales, location map detailing the locations of the subject
and all rentals, listings and sales utilized in the report, a floor-plan sketch
with exterior dimensions and gross living area calculations for each unit
and appropriate certifications and limiting conditions.
Condominium
Appraisal (1073 and 1004)
Condominium appraisals
are reported on the Individual Condominium Unit Appraisal Report and comply
with USPAP, and customer guidelines. Condominium appraisals completed for
FHA loans will be reported on the URAR form 1004. A full interior and exterior
inspection of the subject unit is made and a concise analysis of the project
and market are provided. Attachments comparable to those included with the
single-family residential report are also included in the condominium report.
Non-owner-occupied unit appraisals include a completed rent schedule and operating
income statement.
