Get the up-to-date Fannie Mae Form 2055 (Old Form) - Tomaino Appraisal, LLC-2025 now

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The document is a summary appraisal report prepared by Tomaino Appraisal for a mortgage finance transaction. It includes detailed information about the property being appraised, such as its address, ownership, neighborhood characteristics, and legal descriptions. The report outlines the appraisal process, including inspections and comparable sales analysis, to estimate the market value of the property. It emphasizes that the appraisal is intended solely for use by the lender/client and includes disclaimers regarding the appraiser's responsibilities and limitations.

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What is the most common land appraisal form is a Fannie Mae form?

A URAR form, also known as Fannie Mae Form 1004, contains information needed to complete a full appraisal of a property using three primary approaches to determine value: cost approach, sales comparison approach and income approach.

What is the most commonly used type of appraisal?

Full appraisals The full appraisal is the most common way to determine the value of a single-family home, and it is often referred to as the 1004 (aka, the ten-oh-four), named for the reports form number.

How old can an appraisal be for Fannie Mae?

Fannie Mae will allow the use of an origination appraisal for a subsequent transaction if the following requirements are met: The subsequent transaction may only be a limited cash-out refinance. The age of the appraisal report must be less than 12 months from the note date of the subsequent transaction.

What is the Fannie Mae appraisal report form?

Fannie Mae 1004, Uniform Residential Appraisal Report Also known as the Freddie Mac form 70 or the URAR. This report form is designed to report an appraisal of a one-unit property, or a one-unit property with an accessory unit.

What is the most common appraisal report form?

The Uniform Residential Appraisal Report (URAR) is widely considered to be one of the most common forms used in real estate appraisal.

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What is a 1073 appraisal form used for?

Form 1073. Form 1073 is the second most commonly used property appraisal form for residential properties. This form is used for appraising iniums. Essentially, it is the same form as Form 1004 and also serves the same purpose.

What is the most commonly used land appraisal form is a Fannie Mae form?

The most commonly-used land appraisal report form is produced by Fannie Mae. This report is known as the Uniform Residential Appraisal Report (URAR), also referred to as Form 1004. It is specifically designed for appraisers to evaluate residential properties.

What is the 2055 form for appraisal?

Exterior-Only Inspection Residential Appraisal Report Form 2055 is designed to report the results of an appraisal of a 1-unit property, including a unit in a Planned Unit Development (PUD), Detached inium Unit or a 1-unit property with an accessory unit.