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What is the difference between a 1004 and 1025 appraisal form?

Keep in mind that Form 1004C is used for appraising single-family manufactured housing, while Form 1073 is used for condominium units. On the other hand, Form 1025 is for small multi-family investment properties.

What are the 3 types of appraisal reports?

Appraisal reports that communicate either complete or limited appraisals may be presented in three formats: self-contained reports, summary reports, and restricted reports.

What is the most common land appraisal form?

The 1004 appraisal form is probably the most common and widely used appraisal form for residential appraisers.

Does a 1025 include a 1007?

For Investment/Income properties, the Form 1025 will be accompanied by Form 216 (Operating Income Statement). The Form 1007 (Comparable Rent Schedule) is not needed as an add on form as the 1025 includes a section for the Comparable Rent Schedule as part of the standard form.

What is 1004 in mortgage?

Form 1004 contains the information needed for completing a full appraisal of a property. It uses three primary approaches to determine value: cost, sales comparison, and income approaches.

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