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The appraiser must at a minimum 1 perform a complete visual inspection of the interior and exterior areas of the subject unit 2 inspect and analyze the condominium project 3 inspect the neighborhood 4 inspect each of the comparable sales from at least the street 5 research verify and analyze data from reliable public and/or private sources and 6 report his or her analysis opinions and conclusions in this appraisal report. Modifications or deletions to the certifications are also not permitted. ...

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What is a condo appraisal form called?

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.

What is the appraisal form for individual condominium unit appraisal report?

Individual Condominium Unit Appraisal Report Form 465 is designed to report the results of an appraisal of a 1-unit property in a Condominium Project, whether attached or detached.

How are investment properties appraised?

One method is the sales comparison approach, or SCA. This is perhaps the most widely used form of appraising and valuating. This approach is straightforward\u2014the appraiser compares the property to similar ones that have been sold or rented in the area over a certain period.

What is a 216 and 1007 appraisal form?

Fannie Mae Form 1007 is used to provide an estimated market rent for the subject. Fannie Mae Form 216 is used to estimate the operating income associated with income-producing property. Report Includes: Complete 1007 and 216 reports and front-view photos of each comparable property.

What appraisal form is used for 2 unit?

What is a Small Residential Income Property Appraisal Report (Form 1025)? This is the industry-standard appraisal report type for 2-4 unit residential properties. It is the most commonly used report format for two to four unit residential income property appraisals.

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What is a 1073 appraisal form?

Fannie Mae Form 1073 March 2005. This report form is designed to report an appraisal of a unit in a condominium project or a condominium unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a cooperative project.

What is a 1025 appraisal form used for?

This report form is designed to report an appraisal of a two- to four-unit property, including a two- to four-unit property in a planned unit development (PUD).

What is a 1004C appraisal form?

The Manufactured Home Appraisal Report (Fannie Mae Form 1004C/Freddie Mac Form 70B) is a stand- alone appraisal report form designed exclusively to report an appraisal of a 1-unit manufactured home, based on an interior and exterior inspection of the subject property.

What does a 1025 appraisal include?

This report is used for appraising 2- to 4-unit residential income properties, and includes an interior and exterior inspection of the subject property.

What are the 3 types of appraisal reports?

The Uniform Standards of Professional Appraisal Practice set forth the requirements for appraisal reports, which may be presented in one of three written formats: self-contained reports, summary reports, and restricted-use reports.

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What is a condo appraisal form called?

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