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The document is a Residential Appraisal Report for the property located at 940 Greenleaf Acres Dr, Asheboro, NC, prepared by John F. Leach for Ofori and Associates, PC. The appraisal estimates the market value of the property at $85,000 as of November 26, 2012. It includes details about the property's condition, neighborhood characteristics, comparable sales analysis, and necessary repairs. The report indicates that the property is in fair condition with some cosmetic issues and requires repairs estimated at $1,100 to meet FHA's minimum property standards.

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What will fail a FHA appraisal?

Structure Quality. The overall structure of the property must be in good enough condition to keep its occupants safe. This means severe structural damage, leakage, dampness, decay or termite damage can cause the property to fail inspection. In such a case, repairs must be made in order for the FHA loan to move forward.

What is a 1073?

An Individual Condominium Unit Appraisal Report (ICUAR) is for appraisals of one-unit properties in condo projects based on interior and exterior property inspections. Also known as Fannie Mae Form 1073, appraisals reported on this form must be completed in accordance with the UAD Specification.

Can an FHA case number be assigned after appraisal?

The effective date of the appraisal cannot be before the case number assignment date unless the lender certifies, via the certification field in the Appraiser Logging Screen in FHA Connection, the appraisal was ordered for conventional lending, HUD REO or government guaranteed loan purposes but was performed by a FHA ...

When reporting the results of an FHA appraisal on a condominium unit which form does FHA require the appraiser to use?

Individual Condominium Unit Appraisal Report (Fannie Mae Form 1073 March 2005) \u2013 Required to report an appraisal of a unit in a condominium project or a condominium unit in a planned unit development (PUD).