Uniform Residential Appraisal Report (URAR) Model Appraisal
|
|
- Dorcas Henderson
- 5 years ago
- Views:
Transcription
1 Basic Appraisal Procedures Residential Applications & Model Appraisals Uniform Residential Appraisal Report (URAR) Model Appraisal On the following pages are examples of a completed Fannie Mae/Freddie Mac 2005 Uniform Residential Appraisal Report and Exterior Only Appraisal Report of the same property. The forms have been cut up to permit a larger and easier to read display of the form.
2 15-14 Residential Applications & Model Appraisals Basic Appraisal Procedures URAR Model Appraisal: Subject & Contract URAR Model Appraisal: Neighborhood & Site 100
3 Basic Appraisal Procedures Residential Applications & Model Appraisals URAR Model Appraisal: Improvements 1 x $5,000
4 15-16 Residential Applications & Model Appraisals Basic Appraisal Procedures URAR MODEL APPRAISAL - Sales Comparison Approach Grid (1) 1 months ago 2 months ago 2 months ago Good/Superior -10, ,875
5 Basic Appraisal Procedures Residential Applications & Model Appraisals URAR Model Appraisal: Sales Comparison Approach (2) 10 Two Years OverThreeYears Over Three Years 1 2 URAR Model Appraisal: Reconciliation 3/12
6 15-18 Residential Applications & Model Appraisals Basic Appraisal Procedures past 3 years. URAR Model Appraisal: Additional Comments 10 subject house is the same age as the typical house in this neighborhood. other Comparable Sales #1 & #2 have the same influence. Sale #3 does not. [See Additional Comments.]
7 Basic Appraisal Procedures Residential Applications & Model Appraisals URAR Model Appraisal: Cost Approach 7,000 16,192 91,600(r) 18,000(r) 11,500(r) 229,000(r) 121,000(r) 108, ,000 URAR Model Appraisal: Income Approach (GMRM) URAR MODEL APPRAISAL: PUD Information
8 15-20 Residential Applications & Model Appraisals Basic Appraisal Procedures URAR Model Appraisal: Page 4
9 Basic Appraisal Procedures Residential Applications & Model Appraisals URAR Model Appraisal: Page 5
10 15-22 Residential Applications & Model Appraisals Basic Appraisal Procedures URAR Model Appraisal: Page 6
11 Basic Appraisal Procedures Residential Applications & Model Appraisals URAR Model Appraisal: Page 6 (continued) * * Indicates information that is personal to the Appraiser and Supervisory Appraiser who sign the appraisal
12 15-24 Residential Applications & Model Appraisals Basic Appraisal Procedures URAR Model Appraisal: Addenda: Sales Contract
13 Basic Appraisal Procedures Residential Applications & Model Appraisals URAR Model Appraisal: Addenda: Photographs of Subject Street & Comparable Sales
14 15-26 Residential Applications & Model Appraisals Basic Appraisal Procedures URAR Model Appraisal: Addenda: Building Sketch
15 Basic Appraisal Procedures Residential Applications & Model Appraisals URAR Model Appraisal: Addenda: Neighborhood Map
16 15-28 Residential Applications & Model Appraisals Basic Appraisal Procedures URAR Model Appraisal: Addenda: Community Map
17 Basic Appraisal Procedures Residential Applications & Model Appraisals URAR Model Appraisal: Addenda: Regional Map
18 15-30 Residential Applications & Model Appraisals Basic Appraisal Procedures URAR Model Appraisal: Addenda: Single - Family Comparable Rent Schedule similar to the similar to the superior 2
19 Basic Appraisal Procedures Residential Applications & Model Appraisals URAR Model Appraisal: Addenda - Additional Comments ADDITIONAL COMMENTS: The interior and equipment are typical of houses in this neighborhood. The appraised value includes only those items of equipment that are considered to be part of the real estate. The house is well maintained. No significant repairs are currently needed. See Environmental Addenda for additional information on environmental hazards. SITE: The subject site is typical of the neighborhood. The were no observed environmental hazards on the site. There were typical utility easements for electricity, sewer and telephone which have no effect on the value. There were not apparent adverse easements, encroachments, special assessments, slide areas, etc. on the site or comparable properties that required adjustments. The subject property is near the railroad track and industrial area. COST APPROACH: This house is 40 years old. It does not need any modernization. The bathrooms, kitchen, mechanical equipment and other features of the house meet the current standards for houses of this age in this market. Included in the value of the site improvements are the walks, driveways, fences, utility connections and landscaping. The house has a general lack of storage space. $4,000 of functional obsolescence was estimated for this deficiency. There is no eating area in the kitchen which is expected in this market. $4,000 of functional obsolescence was estimated for this deficiency.. There is only a crawl space under the house in a market that prefers basements. $8,000 of functional obsolescence was estimated for this deficiency. In addition the reproduction cost does not include the cost of a basement so the difference for a house with and without a basement would be greater than $4,000. The domestic solar hot water heater (which is less than a year old) cost $7,000. It adds only $5,000 in value, and therefore it suffers $2,000 functional obsolescence. The subject site is near the railroad tracks. 5% external obsolescence is estimated to be caused by being in close proximity to the railroad tracks and industrial buildings. Comparable Sales #1 and #2 are also near the railroad track and industrial buildings, therefore no adjustment is needed. Comparable Sales #3 is not effected by this external obsolescence therefore a minus $10,000 adjustment is made to reflect this difference between comparable sale #3 and the subject property. SALES COMPARISON APPROACH: The comparable sales were verified and no personal property was included in their sale prices. All comparable sales are closed sales. In order to locate these comparable sales, we checked the appraisals we previously made in the area, the Local Data Center, MLS Service, and our own files.
20 15-32 Residential Applications & Model Appraisals Basic Appraisal Procedures The comparable sales were verified by the sources shown in the report, and the appraiser was able to ascertain that there were no significant sales concessions, special financing, or other special considerations. The dates of sale reported are the closing dates. Many comparable closed sales were considered in making this appraisal. The three closed sales displayed are considered to be the most comparable and the best indicators of value for the subject property. Most weight is given to Comparable #2 because it required the smallest amount of adjustment, is in a similar location to the subject, and has the most reliable adjustments. INCOME APPROACH: Good rental data and information about houses that were rented when they were sold was available in this neighborhood to develop an Estimated Market Rent and Gross Rent Multiplier. COMPETENCY: The Appraiser and the Supervisory Appraiser, both signers of this report, believe that they are competent to make this appraisal based on their experience and educational background.
21 Basic Appraisal Procedures Residential Applications & Model Appraisals Notes
22 15-34 Residential Applications & Model Appraisals Basic Appraisal Procedures Exterior - Only Inspection Residential Appraisal Report (2055) - Model Appraisal The following is quoted from the Fannie Mae announcement that pertains to the Exterior- Only Inspection Residential Appraisal Report dated March 2005 and available on the Fannie Mae web site: USE This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit (including a unit in a planned unit development (PUD)), based on an exterior only inspection of the subject property from the street. This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. The appraiser must be able to obtain adequate information about the physical characteristics (including but not limited to, condition, room count, gross living area, etc.) of the subject property from the exterior-only inspection and reliable public and/ or private sources to perform this appraisal. The appraiser should use the same type of data sources that he or she uses for comparable sales such as, but not limited to, multiple listing services, tax and assessment records, prior inspections, appraisal files, information provided by the property owner, etc.
23 Basic Appraisal Procedures Residential Applications & Model Appraisals Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report: Subject & Contract 1,99 Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report: Site 1
24 15-36 Residential Applications & Model Appraisals Basic Appraisal Procedures Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report: Improvements 197_
25 Basic Appraisal Procedures Residential Applications & Model Appraisals Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report: Sales Comparison Approach Grid (1) 1 month ago 2 months ago 2 months ago
26 15-38 Residential Applications & Model Appraisals Basic Appraisal Procedures Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report : Sales Comparison Approach Grid (2) 10 Two Years Over Three Years Over Three Years 1 Exterior-Only Inspection (2055) Model Appraisal Report: Reconciliation 155,000 3/12
27 Basic Appraisal Procedures Residential Applications & Model Appraisals Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report: Additional Comments past 3 years. 10 subject house is the same age as the typical house in this neighborhood. other Comparable Sales #1 & #2 have the same influence. Sale #3 does not. [See Additional Comments.]
28 15-40 Residential Applications & Model Appraisals Basic Appraisal Procedures Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report - Cost Approach Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report - Income Approach Exterior-Only Inspection (2055) Model Appraisal Report - Income Approach Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report - PUD Information
29 Basic Appraisal Procedures Residential Applications & Model Appraisals Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report - Page 4
30 15-42 Residential Applications & Model Appraisals Basic Appraisal Procedures Exterior-Only Inspection (2055) Model Appraisal Report: Page 5
31 Basic Appraisal Procedures Residential Applications & Model Appraisals Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report: Page 6
32 15-44 Residential Applications & Model Appraisals Basic Appraisal Procedures Exterior-Only Inspection Residential Appraisal Report (2055) Model Appraisal Report: Page 6 * This information is based on the Appraiser s and Supervisory Appraiser s (only if required) personal data. Exterior-Only Inspection Residential Appraisal Report (2055)-14 Exterior-Only Inspection (2055) Model Appraisal Report: Addenda The requirements for the addenda of an Exterior-Only Inspection Residential Appraisal Report (2055) are the same as for the Uniform Residential Appraisal Report (URAR). The addenda exhibits on the URAR Model Appraisal Report are the same as the this Exterior-Only Inspection (2055) Model Appraisal Report - Addenda
33 Basic Appraisal Procedures Residential Applications & Model Appraisals Narrative Appraisal Reports The appraiser is afforded the best opportunity to support opinions and conclusions and to convince the client of the soundness of their value estimate in a narrative appraisal report. Its content and arrangement may vary. A typical report follows the table of contents shown in Fig Some appraisal organizations have their own specific guidelines for the preparation of narrative demonstration appraisals to be used for credit towards their designations. FIG CONTENTS OF A TYPICAL NARRATIVE APPRAISAL REPORT Part One - Introduction Title Page Letter of transmittal Certification Table of contents Qualifications of the appraiser Photographs of the property Summary of salient facts and conclusions Part Two - Premises of the Appraisal Underlying assumptions and limiting conditions Intended use Intended user Client Market value definition Effective date of appraisal Date of report Property rights appraised Part Three - Presentation of Data Identification of the property Identification of non-realty items Regional map Regional data Community map Community data Neighborhood boundary map Neighborhood data Zoning data Assessment and tax data Site plan Site data Description of the improvements History of the property Ownership history Floor plans
34 15-46 Residential Applications & Model Appraisals Basic Appraisal Procedures Part Four - Analysis of Data and Conclusions The appraisal process Highest and best use of the site as though vacant Highest and best use of the property as improved Cost approach including site valuation Sales comparison approach Income approach Reconciliation and final value estimate Part Five - Addenda Detailed legal description Additional regional, community, neighborhood data and statistics Additional photographs Additional plans Other appropriate items Summary The valuation process is the orderly step-by-step procedure an appraiser follows to produce a credible appraisal. It begins with the definition of the problem to be solved and concludes with a report of the solution in the form of an estimate of the defined value that is sought. The purpose of the appraisal process is to provide the outline for making thorough, accurate appraisals in an efficient manner. Most appraisers would agree that making appraisals is an art, not a science. They would further explain that the profession is constantly trying to make appraising more scientific. A big step toward this goal has been the development of the valuation process. Within this theoretical framework, a concise, logical and clearly supported value conclusion can be presented which meets the needs of clients as well as the standards of the appraisal profession. New techniques using statistical methods to abstract information from the market, such as automatic valuations models using multiple regression analysis and other statistical techniques, are also making the appraisal process more scientific. The final step of the valuation process is to produce an appraisal report. What type of report is produced should be determined when the appraiser and the client determine what the client s needs are, who the intended user(s) are, what the intended use(s) of the appraisal will be will there be any additional intended users? It is one of the many things to be decided as part of the process of agreeing upon the scope of work. Appraisal reports can be oral reports, letter reports, form report or narrative reports. The USPAP has requirements for producing each of these types of report which must be strictly followed. It is the appraiser s responsibility to produce a credible appraisal report that will satisfy the needs of the client and all identified intended users.
Demonstration Appraisal Report Utilizing a Form Report
Demonstration Appraisal Report Utilizing a Form Report National Association of Independent Fee Appraisers 330 North Wabash Avenue, Suite 2000 Chicago, IL 60611 Phone: (312) 321-6830 Fax: (312) 673-6652
More informationAnnouncement March 24, 2005
Announcement 05-02 March 24, 2005 Amends these Guides: Selling Final Appraisal Report Forms Part XI: Property and Appraisal Analysis Guidelines In Lender Announcement 04-07 dated November 8, 2004, we released
More informationAppraisal Review: Analyzing the 1004
Appraisal Review: Analyzing the 1004 1 LIVE ONLINE PARTICIPANT GUIDE Version: 8.12 Table of Contents The Purpose of the Appraisal... 3 Define Market Value... 3 Scenario 1 (John Johnson report) - 1004 Uniform
More informationUNIFORM APPRAISAL DATASET (UAD) FHA SPOTLIGHT - SELECTION AND VERIFICATION OF COMPARABLE SALES
Spring 2011 Issue 3 FHA APPRAISER In This Issue: Welcome to the third issue of the Federal Housing Administration Appraiser Roster Newsletter. We hope you will find it informative. Uniform Appraisal Dataset
More informationAppraisal Review Reminders
Use the following list of reminders as a tool when underwriting the appraisal report. For complete information on appraisal requirements, refer to the Freddie Mac Seller/Servicer Guide (Guide) Chapter
More informationBasic Appraisal Procedures
Hondros Learning Basic Appraisal Procedures Timed Outline Topic Area Reference(s) Learning Objectives The student will be able to identify and/or apply: Teaching Method Time Segment (Minutes) Day 1 Chapter
More informationRestricted Use Appraisal Report Residential
Client File #: Appraisal File #: Restricted Use Appraisal Report Residential Appraisal Company: Address: Form 200.04* Phone: Fax: Website: Appraiser: Co-Appraiser: AI Membership (if any): SRA MAI SRPA
More informationAppraisal Review Reminders
Use the following list of reminders as a tool when underwriting the appraisal report. For complete information on appraisal requirements, refer to the Freddie Mac Seller/Servicer Guide (Guide) Chapter
More informationAppraisal Engagement Instructions
Appraisal Engagement Instructions OVERVIEW The appraisal report must be prepared by a state licensed or certified appraiser and must comply with the Appraiser Independence Requirements (AIR), Uniform Standards
More informationHow to Read a Real Estate Appraisal Report
How to Read a Real Estate Appraisal Report Much of the private, corporate and public wealth of the world consists of real estate. The magnitude of this fundamental resource creates a need for informed
More informationGuide Note 15 Assumptions and Hypothetical Conditions
Guide Note 15 Assumptions and Hypothetical Conditions Introduction Appraisal and review opinions are often premised on certain stated conditions. These include assumptions (general, and special or extraordinary)
More informationRestricted Use Appraisal Report Residential
Client File #: Appraisal File #: Restricted Use Appraisal Report Residential Form 200.04 * Appraiser: AI Membership (if any): SRA MAI SRPA AI Affiliation (if any): Candidate for Designation Practicing
More informationTo all Appraisers: Brief Overview:
To all Appraisers: As the appraisal industry continues to change, the demand for alternative valuation solutions grows. That is why is excited to announce the addition of a new product - the Desktop Appraisal
More informationGuide Note 6 Consideration of Hazardous Substances in the Appraisal Process
Guide Note 6 Consideration of Hazardous Substances in the Appraisal Process Introduction The consideration of environmental conditions along with social, economic, and governmental conditions is fundamental
More informationChapter 5 Fee Appraiser Responsibilities
Chapter 5 Fee Appraiser Responsibilities The fee appraiser is responsible for all aspects of the appraisal process. Important: Certain key appraisal functions may not be delegated to anyone else. Failure
More informationFundamentals of Real Estate APPRAISAL. 10th Edition. William L. Ventolo, Jr. Martha R. Williams, JD
A Fundamentals of Real Estate APPRAISAL 10th Edition William L. Ventolo, Jr. Martha R. Williams, JD Dennis S. Tosh, PhD William B. Rayburn, PhD, MAI, CFA Consulting Editors Dearb rri Real Estate Education
More informationAPPRAISAL REQUIREMENTS FOR SUNTENDER VALUATIONS, INC. Updated 03/26/2018
APPRAISAL REQUIREMENTS FOR SUNTENDER VALUATIONS, INC. Updated 03/26/2018 STOP Call Suntender Valuations if subject is a refinance transaction however it has been listed for sale in the past 3 months, unless
More informationSummary of Assignment. Identification of Property and Appraisal
Summary of Assignment My assignment is to review an appraisal of the Athow Property owned by Lewis and Janice Athow. The property is located near the mouth of the Dungeness River in Clallam County, Washington
More informationSIRVA Mortgage Order Instructions
SIRVA Mortgage Order Instructions Appraiser Trainees: This client does not permit Trainees to sign the appraisal report, however USPAP requirements apply when significant assistance has been provided by
More informationRESTRICTED APPRAISAL REPORT
Restricted Use Appraisal Report Thomas J. Schulte & Associates Page #1 RESTRICTED APPRAISAL REPORT SUBJECT ASSIGNMENT Property City: Zip Code: County: Legal Description: Assessor's Parcel #: Tax Year:
More informationIndividual Cooperative Interest Appraisal Report
PURPOSE Individual Cooperative Interest Appraisal Report The purpose of this appraisal report is to provide the client with a credible opinion of the defined value of the subject property, given the intended
More informationCopyright, 1999, 2002, 2004, Freddie Mac. All Rights Reserved.
Page 1 of 13 Engineering Requirements/Chapter 12: Appraiser and Appraisal Requirements/12.1: General requirements 12.1: General requirements For all multifamily purchase programs and products, the Seller/Servicer
More informationAnatomy Of An Appraisal
Anatomy Of An Appraisal Leslie A. Fields The most important thing to know about an appraisal report is how to review and critique it. Leslie A. Fields a partner with the Law Firm of Faegre & Benson LLP,
More informationprocedures Basic Appraisal F i n a l Examination #2 2 nd edition
F i n a l Examination #2 A n s w e r Key Page 82 1. When determining effective gross income from potential gross income, an appraiser considers a. debt service. b. depreciation. c. fixed expenses. d. vacancy
More informationExterior Only Inspection Residential Appraisal Report File #
SUBJECT Summary Appraisal Report Brian J. Davis & Associates Exterior Only Inspection Residential Appraisal Report File # Page #3 The purpose of this summary appraisal report is to provide the lender/client
More informationGuidance for Lenders and Appraisers April 2009
Guidance for Lenders and Appraisers April 2009 Fannie Mae views lenders as our partners in ensuring the continued viability of the residential lending market and the continued availability of affordable
More informationA Demonstration Appraisal Report. Of a. Located at. Date of Appraisal. Prepared for. Prepared by
A Demonstration Appraisal Report Of a Located at Date of Appraisal Prepared for Prepared by International Association of Assessing Officers Professional Designation Subcommittee 314 W. 10 th Street Kansas
More informationFHA Reference Materials for This Seminar... 1 Primary Audience for This Seminar... 1 Not Yet Approved for FHA Appraisal Assignments?...
Table of Contents Overview... vii Seminar Schedule... xi Section 1 Introduction FHA Reference Materials for This Seminar... 1 Primary Audience for This Seminar... 1 Not Yet Approved for FHA Appraisal Assignments?...
More informationAppraisal Stream Restricted Use Residential Appraisal Report
Appraisal Stream Restricted Use Residential Appraisal Report File No. 769kemplin This report is limited to the sole and exclusive use of the client. The appraiser's opinions and conclusions set forth in
More informationAppraisal Review & Advisory Opinion 20 Controversy. Presenter: Lisa Kimbro, MAI, AI-GRS
Appraisal Review & Advisory Opinion 20 Controversy Presenter: Lisa Kimbro, MAI, AI-GRS Practicing appraisers know USPAP, and appraisers that complete review work know USPAP s Standard 3. But what about
More informationPREPARATION OF THE DEMONSTRATION APPRAISAL REPORT
PREPARATION OF THE DEMONSTRATION APPRAISAL REPORT INTRODUCTION The preparation of the demonstration appraisal report is one of the critical components of the accreditation process. The objective of the
More informationChapter 7. Valuation Using the Sales Comparison and Cost Approaches. Copyright 2010 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter 7 Valuation Using the Sales Comparison and Cost Approaches McGraw-Hill/Irwin Copyright 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Decision Making in Commercial Real Estate Centers
More informationTraining the Next Generation of Appraisers The S.T.A.R.T. Program - Standards to Assure Responsible Training:
Training the Next Generation of Appraisers The S.T.A.R.T. Program - Standards to Assure Responsible Training: An Industry Solution to the Declining Number of Appraisers Entering the Profession and Practical
More information619 STANDARD 2: REAL PROPERTY APPRAISAL, REPORTING
619 STANDARD 2: REAL PROPERTY APPRAISAL, REPORTING 620 In reporting the results of a real property appraisal, an appraiser must communicate each analysis, 621 opinion, and conclusion in a manner that is
More informationIndustrial and Commercial Real Estate Appraisal Procedures
Property Valuation Thought Leadership Industrial and Commercial Real Estate Appraisal Procedures John C. Ramirez The application of the asset-based approach to business valuation often involves the appraisal
More informationRESIDENTIAL APPRAISAL SUMMARY REPORT
APPRAISAL SUMMARY REPORT SUBJECT ASSIGNMENT SALES COMPARISON APPROACH Lic #: 4800004017 Page #1 File No.: : City: Rye State: NY Zip Code: County: WESTCHESTER Legal Description: Assessor's Parcel #: (SUMMARY
More information2. Is the information in the contract section complete and accurate? Yes No Not Applicable If Yes, provide a brief summary.
The purpose of this appraisal field review report is to provide the lender/client with an opinion on the accuracy of the appraisal report under review. Property Address City State Zip Code Borrower Owner
More informationPage 1 of 5 STANDARD 3: APPRAISAL REVIEW, DEVELOPMENT AND REPORTING In performing an appraisal review, an appraiser acting as a reviewer must develop and report a credible opinion as to the quality of
More informationUse of Comparables. Claims Prevention Bulletin [CP-17-E] March 1996
March 1996 The use of comparables arises almost daily for all appraisers. especially those engaged in residential practice, where appraisals are being prepared for mortgage underwriting purposes. That
More informationThe Official Guide to the Demonstration of Knowledge Requirement: Residential
The Official Guide to the Demonstration of Knowledge Requirement: Residential Effective June 7, 2017 Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal professional
More informationTable of Contents. Chapter 1: Introduction (Mobile Technology Evolution) 1
Chapter 1: Introduction (Mobile Technology Evolution) 1 I. WHY APPRAISAL IS IMPORTANT (p. 3) II. DEFINITION OF APPRAISAL (p. 4) A. Opinion (p. 4) B. Value (p. 5) C. Appraisal Art or Science? (p. 5) D.
More informationRESIDENTIAL APPRAISAL SUMMARY REPORT
APPRAISAL SUMMARY REPORT SUBJECT ASSIGNMENT SALES COMPARISON APPROACH Lic #: 80000019 Page #1 File No.: : City: WHITE PLAINS State: NY Zip Code: County: WESTCHESTER Legal Description: Assessor's Parcel
More informationIndex of Examples. Chapter 1 Letter of Transmittal Chapter 2 General Assumptions and Limiting Conditions... 19
Index of Examples Chapter 1 Letter of Transmittal... 1 Example 1A Detailed Letter of Transmittal... 2 Example 1B Detailed Letter of Transmittal with Risk Factors and Assumptions... 6 Example 1C Brief Letter
More informationAs Of: Prepared For: Prepared By:
of 216 SW 131st St As Of: 06/11/11 Prepared For: Prime Pacific Bank 2502 196th St SW Lynnwood WA 98036 Prepared By: Cynthia A. Nagle, CREA 922 N Cedar St Tacoma, WA 98406 RESTRICTED APPRAISAL REPORT Restriction
More informationClassroom Procedures Introduction to the Course
Course Schedule SECTION 1. (Day 1 Morning) Overview Registration Introduction Part 1. The Valuation Process Classroom Procedures Introduction to the Course Introduction to the Valuation Process Step 1:
More informationUNDERSTANDING HOW USPAP APPLIES TO REAL PROPERTY APPRAISAL PRACTICE USPAP Matrix
UNDERSTANDING HOW USPAP APPLIES TO REAL PROPERTY APPRAISAL PRACTICE - 2014-2015 USPAP Matrix This matrix assumes an Appraisal Report Format under S. R. 2-2(a). *Last updated 9/11/14* GENERAL Violation
More informationChapter 8 Qualifying Property
The 3 "Cs" of Lending Capacity to Pay does the borrower make enough money to repay loan? lenders use qualifying ratios Creditworthiness [Character] is the borrower likely to repay loan on time? lenders
More informationconcepts and techniques
concepts and techniques S a m p l e Timed Outline Topic Area DAY 1 Reference(s) Learning Objective The student will learn Teaching Method Time Segment (Minutes) Chapter 1: Introduction to Sales Comparison
More informationAI General Demonstration Grading Sheet
AI General Demonstration Grading Sheet Traditional Report - Fundamental Market Analysis Option Account # Candidate Subject Property Address Grader Date Mailed to Grader Original Submission If original
More informationFannie Mae Single Family/2007 Selling Guide/Part XI: Property and Appraisal Guidelines/Part XI: Property and Appraisal Guidelines
Fannie Mae Single Family/2007 Selling Guide/Part XI: Property and Appraisal Guidelines/Part XI: Property and Appraisal Guidelines Part XI: Property and Appraisal Guidelines Copyright, 2001-2007, Fannie
More informationRevuPro Appraisal Review
RevuPro Appraisal Review Getting It Right ELLIOTT introduces its flagship review product RevuPro, as an independent appraisal review service. Q. What is it and what does it do? A. RevuPro is a fast, economical
More informationAPPRAISAL OF REAL PROPERTY
Home Appraisals, Inc. (866) 533-7173 APPRAISAL OF REAL PROPERTY File # LOCATED AT Field Review Form Sample FOR OPINION OF VALUE 35, AS OF 11/1/7 TABLE OF CONTENTS One-Unit Field Review... 1 General Text
More informationUniform Appraisal Dataset (UAD) Frequently Asked Questions
Uniform Appraisal Dataset (UAD) Frequently Asked Questions July 13, 2014 Updated for formatting May 15, 2017 The following provides answers to questions frequently asked about Fannie Mae s and Freddie
More informationREQUEST FOR PROPOSAL (RFP) RFP AS. Appraisal Services Valuation of DBHA Properties
REQUEST FOR PROPOSAL (RFP) RFP 2019-01AS Appraisal Services Valuation of DBHA Properties Daytona Beach Housing Authority (DBHA) 211 N Ridgewood Ave Suite 300 Daytona Beach, FL 32114 (386) 253-5653 Terril
More informationA Demonstration Appraisal Report. Of a. Located at. Date of Appraisal. Prepared for. Prepared by
A Demonstration Appraisal Report Of a Located at Date of Appraisal Prepared for Prepared by International Association of Assessing Officers Professional Designation Subcommittee 314 West 10 th Street Kansas
More informationDepartment of Energy
Department of Energy Bonneville Power Administration P.O. Box 3621 Portland, Oregon 97208-3621 ENVIRONMENT, FISH AND WILDLIFE February 5, 2010 In reply refer to: KEW-4 Dear Fish and Wildlife Project Sponsor:
More informationabsorption rate ad valorem appraisal broker price opinion capital gain
absorption rate The estimated time required to sell or lease property within a designated area at its fair market value. ad valorem Real estate taxes imposed on property based on its assessed value. appraisal
More information2009 QBS Request for Statement of Interest (SOI) On Call Appraisal Services
2009 QBS Request for Statement of Interest (SOI) On Call Appraisal Services The Kane County Division of Transportation is in need of professional services from an appraisal firm to provide appraisals for
More informationEMPLOYEE RELOCATION COUNCIL SUMMARY APPRAISAL REPORT
EMPLOYEE RELOCATION COUNCIL SUMMARY APPRAISAL REPORT Client: Client File #: Client Address: Suite #: Homeowner: Subject Property Address: County: Appraiser Company Name: TOMAINO APPRAISAL Appraiser File
More informationMODULE 7-A: APPRAISALS, BPOS AND USPAP
MODULE 7-A: APPRAISALS, BPOS AND USPAP LEARNING OBJECTIVES One of the most challenging aspects of the real estate business is the development of prices or values of the rights to real estate. Buyers and
More informationMike Dalton Jr. and Associates. Christina Adams INVOICE NUMBER Mike Dalton Jr. and Associates 8191 Wethersfield Drive. PB125 Germantown, TN 38138
Mike Dalton Jr. and Associates FROM: INVOICE Christina Adams INVOICE NUMBER Mike Dalton Jr. and Associates 8191 Wethersfield Drive Germantown, TN 38138 DATE 08/14/2016 Telephone Number: (901) 674-0239
More informationEvaluating Your Appraisal
Evaluating Your Appraisal April 28, 2011 Presented by: Brady W. Meadows Mortgage Compliance Advisors Instructions Because of the large number of registrants, the lines will be muted. To ask a question,
More informationInteragency Appraisal and
Interagency Appraisal and Evaluation (IAEG) Workshop Purpose (77456) Supersedes the 1994 Interagency Appraisal & Evaluation Guidelines Address supervisory matters relating to real estate appraisal and
More informationSUMMARY OF SALIENT FEATURES
File No. TES25863 Page #2 SUMMARY OF SALIENT FEATURES Subject Address Legal Description SUBJECT INFORMATION City County State Zip Code Edmond OK Census Tract Map Reference SALES PRICE Sale Price Date of
More informationUniform Residential Appraisal Report File #
D.S. Murphy & Associates FHA/VA Case No. SUBJECT The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of
More informationAPPRAISAL OF REAL PROPERTY
Page # 2 APPRAISAL OF REAL PROPERTY LOCATED AT Block 7, Castle Brewer Court, Plat Book 10, Page 18 FOR Sanford Housing Authority 94 Castle Brewer Ct. OPINION OF VALUE 30,000 AS OF 12/14/2012 BY William
More informationAPPRAISAL OF REAL PROPERTY LOCATED AT: FOR: AS OF: BY:
APPRAISAL OF REAL PROPERTY LOCATED AT: 627/631 NW 14 STREET SEE ADDENDUM FOR COMPLETE LEGAL DESCRIPTION FLORIDA CITY, FL 33034 FOR: 1261 HOMESTEAD ROAD LEHIGH ACRES, FL 33936 AS OF: 10/20/2014 BY: LINDA
More informationKathy Coon, SRA Appraisal Review: CSI Style ( )
Appraisal Review: CSI Style Southern California Chapter Appraisal Institute July 16, 2009 Kathy Coon, SRA Chief Appraiser/Director-Appraisal Appraisal Quality Control FNC, Inc. www.fncinc.com com When
More informationREQUEST FOR PROPOSAL FOR. Appraisal Services. Office of the Special Deputy Receiver
REQUEST FOR PROPOSAL FOR Appraisal Services Office of the Special Deputy Receiver October 1, 2008 REQUEST FOR PROPOSAL ( RFP ) Appraisal Services BACKGROUND The Office of the Special Deputy Receiver (OSD),
More informationSales Associate Course
Sales Associate Course Chapter Sixteen Appraisal 1 2 Appraiser Specific amount Impartial (non biased) Defendable Estimate (Opinion) of value Fee based on time and difficulty Must follow Uniform Standards
More informationBUSI 499 Income Property Guided Case Study
BUSI 499 Income Property Guided ase Study PURPOSE AND SOPE The Income Property Guided ase Study course BUSI 499 is intended to give the real estate appraisal student a working knowledge of the practical
More informationASA MTS CANDIDATE REPORT REVIEW CHECKLIST INSTRUCTIONS (Effective as of January 01, 2018) Basic Report Requirements and General Report Quality
ASA MTS CANDIDATE REPORT REVIEW CHECKLIST INSTRUCTIONS (Effective as of January 01, 2018) Basic Report Requirements and General Report Quality This checklist was designed to be a useful resource tool by
More information86 years in the making Caspar G Haas 1922 Sales Prices as a Basis for Estimating Farmland Value
2 Our Journey Begins 86 years in the making Caspar G Haas 1922 Sales Prices as a Basis for Estimating Farmland Value Starting at the beginning. Mass Appraisal and Single Property Appraisal Appraisal
More informationBUSI 398 Residential Property Guided Case Study
BUSI 398 Residential Property Guided Case Study PURPOSE AND SCOPE The Residential Property Guided Case Study course BUSI 398 is intended to give the real estate appraisal student a working knowledge of
More informationSmall Residential Income Property Appraisal Report File #
SUBJECT Summary Appraisal Report Brian J. Davis & Associates Small Residential Income Property Appraisal Report File # Page #4 The purpose of this summary appraisal report is to provide the lender/client
More informationAPPRAISAL REVIEW REPORT
APPRAISAL REVIEW REPORT REVIEW OF APPRAISALS BY BECCARIA & WEBER, INC. RE: BUENA VISTA MOBILE HOME PARK PALO AL TO, CALIFORNIA REVIEWED BY JAMES BRABANT, MAI PREPARED FOR Law Foundation of Silicon Valley,
More informationAPPRAISAL REPORT OF THE REAL PROPERTY LOCATED AT. Enterprise Rd Dillon, SC Ronnie Gardner. March 1, 2018
APPRAISAL REPORT OF THE REAL PROPERTY LOCATED AT Dillon, SC 29536 for as of March 1, 2018 by David McLaurin 105 West Harrison Street Dillon, SC 29536 IDENTIFICATION NEIGHBORHOOD SITE MARKET DATA ANALYSIS
More informationYellow highlighting emphases added by A.L. Appraisal Co.
1 2 3 4 5 6 7 8 9 10 11 (AO-11) This communication by the Appraisal Standards Board (ASB) does not establish new standards or interpret existing standards. Advisory Opinions are issued to illustrate the
More informationBUSI 352 Learning Objectives
BUSI 352 Learning Objectives Purpose and Scope of the Course The Case Studies in Residential Appraisal course (BUSI 352) explores the depth and breadth of knowledge around the valuation of residential
More informationCENTER FOR PROFESSIONAL EDUCATION 9590 West 14 th Avenue Lakewood, CO (720)
CENTER FOR PROFESSIONAL EDUCATION 9590 West 14 th Avenue Lakewood, CO 80215 (720) 889-0797 Approved and Regulated by Division of Private Occupational Schools, Department of Higher Education, State of Colorado
More informationOctober 1, Mr. Wayne Miller, Chair Appraiser Qualifications Board The Appraisal Foundation th Street, NW, Suite 1111 Washington, DC 20005
October 1, 2015 Mr. Wayne Miller, Chair Appraiser Qualifications Board The Appraisal Foundation 1155 15th Street, NW, Suite 1111 Washington, DC 20005 Dear Mr. Miller, I am honored to have the opportunity
More informationAPPRAISAL OF REAL PROPERTY LOCATED AT: FOR: AS OF: BY:
APPRAISAL OF REAL PROPERTY LOCATED AT: 489 MEADOWS EDGE COURT DEED BOOK 2896, PAGE 2759 CLEMMONS, NC 27012 FOR: ESTATE OF WILLIAM C. McINTOSH % BAILEY & THOMAS P.O. BOX 52 WINSTON-SALEM, NC 27102 AS OF:
More information2018 SCCAI RESIDENTIAL SYMPOSIUM USPAP OF THE FUTURE. Paula Konikoff, JD, MAI, AI GRS
USPAP OF THE FUTURE Paula Konikoff, JD, MAI, AI GRS WHERE WE ARE NOW 2 Joint task force for Improvement of USPAP Appraisal Institute and Appraisal Foundation develop USPAP Optimization Concept 3 When unnecessary
More informationAll Interested Parties. Rick Baumgardner, Chair Appraisal Practices Board. Date: September 9, Background
TO: FROM: RE: All Interested Parties Rick Baumgardner, Chair Appraisal Practices Board Concept Paper Valuation Issues in Separating Tangible and Intangible Assets Date: September 9, 2013 Background Those
More informationOffice of the Comptroller of the Currency Federal Deposit Insurance Corporation Federal Reserve Board Office of Thrift Supervision
Office of the Comptroller of the Currency Federal Deposit Insurance Corporation Federal Reserve Board Office of Thrift Supervision Purpose Interagency Appraisal and Evaluation Guidelines October 27, 1994
More informationChapter 35. The Appraiser's Sales Comparison Approach INTRODUCTION
Chapter 35 The Appraiser's Sales Comparison Approach INTRODUCTION The most commonly used appraisal technique is the sales comparison approach. The fundamental concept underlying this approach is that market
More informationUNIFORM RESIDENTIAL APPRAISAL REPORT
SUBJECT NEIGHBORHOOD File No. Page #1 SAMPLE REPORT UNIFORM RESIDENTIAL APPRAISAL REPORT File No. Property Address 123 Sample Street City Chandler State AZ Zip Code 85224 Legal Description Lot 333 Sample
More informationMinnesota. Appraisal Licensing. See weekend course offerings. to get your appraiser license! Your Complete Appraisal Licensing Solution.
Get Started Today >> 2016 Minnesota Appraisal See weekend course offerings to get your appraiser license! Your Complete Appraisal Solution. Introduction Interested in an Appraisal Career? Kaplan has a
More informationReal Estate Appraisal / Finance 322 Spring, 2011
Instructor: Office: / Spring, 2011 Rich Hall Finance Dept. / 134 Rehn Hall 6:30 PM - 7:00 PM Tuesday or any time by appointment. Rehn Hall Room 134 (Finance Office) 453-2459 email: hallr@siu.edu / 529-5500
More informationAPPRAISAL OF REAL PROPERTY
Page # 2 APPRAISAL OF REAL PROPERTY LOCATED AT Lake Monroe Ter. Lengthy Legal FOR Sanford Housing Authority 94 Castle Brewer Ct. OPINION OF VALUE 105,000 AS OF 12/14/2012 BY William Berkey Beaumont Matthes
More informationRESIDENTIAL APPRAISAL SUMMARY REPORT
SUBJECT ASSIGNMENT MARKET AREA DESCRIPTION Property City: Zip Code: County: Legal Description: Assessor's Parcel #: Tax Year: R.E. Taxes: $ Special Assessments: $ Borrower (if applicable): Current Owner
More informationCASE 0:11-cv MJD -FLN Document Filed 08/24/11 Page 1 of 19 APPRAISAL OF REAL PROPERTY
CASE 0:11-cv-00574-MJD -FLN Document 163-3 Filed 08/4/11 Page 1 of 19 Page # of 0 APPRAISAL OF REAL PROPERTY LOCATED AT: 743 Golf Dr Lot 1, Golf Estates Ph. Mission, Tx FOR: AS OF: July 13, 011 BY: Christopher
More informationLand / Site Valuation A Basic Review. Leslie G. Pruitt Certified General Appraiser
Land / Site Valuation A Basic Review Leslie G. Pruitt Certified General Appraiser Whose is the land, it is to the sky and the depth Whose is the land, it is to the sky and the depth This ancient maxim
More informationPresented by Appraisal Institute Canada & Appraisal Institute
VALUATION BEYOND BORDERS 2017 INTERNATIONAL CONFERENCE Presented by Appraisal Institute Canada & Appraisal Institute 1 LITIGATION SUPPORT REVIEW CASE Subject s Basic Factors: Community: Vital, growing
More informationFannie Mae Selling Guide (04/12/2002) Part XI - Property and Appraisal Guidelines
Fannie Mae Selling Guide (04/12/2002) Part XI - Property and Appraisal Guidelines This Part-Property and Appraisal Guidelines-details our general requirements for analyzing the property appraisal aspects
More informationAMC Track Presentation Austin Christensen Founder & CCO - Validox. Appraisal Manager Compliance Techniques
AMC Track Presentation Austin Christensen Founder & CCO - Validox Appraisal Manager Compliance Techniques Who Is An Appraisal Manager? 1. Staff at an Appraisal Management Company 2. Chief Appraiser 3.
More information2015 Appraisal Guidelines
2015 Appraisal Guidelines Pursuant to Section 13 VAC 10-180-60 of the QAP, appraisals are required for all acquisition, acquisition/rehab and adaptive reuse developments, where the applicant is seeking
More informationDear Valuation Professional
Dear Valuation Professional First American Mortgage Solutions LLC has a new product offering that we would like you to consider adding to your list of services with us - (Property Assessment Collateral
More informationReal Estate Appraisal Professional Standards
Real Estate Appraisal Professional Standards Summary This proposal is to amend the Florida Administrative Code (FAC) to allow a Certified Residential Appraiser or a Certified General Appraiser to use standards
More informationUnderwriting the FHA Appraisal
Disclosure The purpose of this presentation is an overview of the subject matter with summation and explanation of recent changes in FHA policy. It introduces and explains, rather than supplants, official
More information