Uniform Residential Appraisal Report (URAR 1004)
The URAR is used for single-family residential properties that secure conventional first and second mortgage loans. This product is also used for Planned Unit Development (PUD) properties. The appraisal includes the physical inspection of the interior and exterior of the subject, and the exterior of each comparable. The URAR provides a uniform format for reporting neighborhood, site, and improvement descriptions.
Exhibits include front, rear, and street scene photo(s) of the subject; front photo(s) of the comparable sales (optional); a street map depicting the location of the subject property and comparables; an exterior building sketch of the subject with room locations identified.
2055 Exterior Appraisal Report (FNMA 2055)
The Desktop Underwriter Quantitative Analysis Appraisal Report (form 2055) is designed as a USPAP-compliant report form allowing an exterior-only inspections of single-family detached, attached, PUD, and condominium properties. The report includes
appropriate certifications and limiting conditions that invoke the Departure
Provision of USPAP in omitting considerations of these approaches to value.
Re-inspection
The Re-inspection is provided for clients after an appraisal has been completed per plans and specifications, or subject to repairs. The appraiser that completed the original appraisal makes a separate trip to the subject property to inspect for the specific items listed in the original report.
Exhibits include a photo of the subject and a signed Appraiser's Certification
Foreclosure/REO (URAR 1004 with REO addendum)
This product is intended for residential foreclosure properties to determine the value of the property, to identify marketing problems and items of deferred maintenance, and to provide a subject to repair value based on the estimated cost to bring the property to a marketable condition. The appraisal includes the physical inspection of the interior and exterior of the subject, and the exterior of each comparable.
Exhibits include front, rear, and street scene photo(s) of the subject; front photo(s) of the comparable sales (optional); photo(s) of needed repairs or three (3) interior photos of representative rooms; a street map depicting the location of the subject property and comparables; an exterior building sketch of the subject with room locations identified; and a signed Appraiser's Certification.
Condominium (Co-Operative) Unit Appraisal Report (1073)
This appraisal is specifically designed for condominium and co-operative units securing first and second mortgage loans. It includes the physical inspection of the interior of the unit and the exterior of the building, and the exterior of each comparable. The appraiser reports neighborhood, site, project and improvement descriptions.
Exhibits include front, rear, and street scene photo(s) of the subject; front photo(s) of the comparable sales (optional); a street map depicting the location of the subject property and comparables; an exterior building sketch of the subject with room locations identified. Additional attachments (regarding investment properties are provided upon request for an additional fee) include an Operating Income Statement (FNMA 216); a Single-family Comparable Rent Schedule (FNMA 1007); and a signed Appraiser's Certification.
Small Residential Income Property Appraisal Report (FNMA Form 1025)
This is offered for two- to four-family residential property types that secure conventional first and second mortgage loans. It includes the physical inspection of the interior and exterior of the subject, and the exterior of each comparable.
Exhibits include front, rear, and street scene photo(s) of the subject; front photo(s) of the comparable sales (optional); a street map depicting the location of the subject property and comparables; an exterior building sketch of the subject with room locations identified; a signed Appraiser's Certification; and Operating Income Statement (FNMA 216).