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  1. Click ‘Get Form’ to open the uniform residential appraisal report in the editor.
  2. Begin by entering the property details, including the address, city, state, and zip code. Ensure accuracy as this information is crucial for identification.
  3. Fill in the borrower and current owner information. Specify whether the property is occupied by an owner, tenant, or is vacant.
  4. Complete sections regarding property rights appraised and project type. Choose from options like Fee Simple or Leasehold and indicate if it’s a PUD or Condominium.
  5. Provide neighborhood characteristics and market conditions. This includes factors affecting marketability such as proximity to amenities and employment stability.
  6. In the description of improvements section, detail site dimensions, zoning compliance, utilities available, and any adverse environmental conditions present.
  7. For valuation sections like cost approach and sales comparison analysis, input estimated values and adjustments based on comparable properties.

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An appraisal report is usually a written statement of the appraiser's opinion of value of an adequately described property as of a specified date. It is a conclusion which results from the process of research and analysis of factual and relevant data.
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 Condominium Unit or a 1-unit property with an accessory unit. An exterior-only inspection of the subject property is required.
In addition to these two types of appraisals, there are three types of report formats: self-contained, summary, and restricted. Self-Contained Report. In this option, the appraiser provides all of the data and the rationale used in the development of the appraisal.
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People also ask

Exterior-Only Inspection Individual Condominium Unit Appraisal Report (Form 1075) 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) based on an exterior-only inspection of the subject property from at least the street.
A hybrid appraisal is a lot like a traditional appraisal, but instead of the appraiser doing both the inspection of the home and the appraisal report, the process is split into two parts that are each completed by a different person. Hence the name \u201cbifurcated.\u201d
The Uniform Residential Appraisal Report (Hybrid) (Fannie Mae Form 1004 Hybrid) supports hybrid appraisals, and Uniform Residential Appraisal Report (Desktop) (Fannie Mae Form 1004 Desktop) supports desktop appraisals in UCDP.
What Fannie Mae form will appraisers use to complete a desktop appraisal? Appraisers must use Fannie Mae Form 1004 (Desktop) to complete desktop appraisals.
The Uniform Standards of Professional Appraisal Practice (USPAP) provides for two types of appraisals: "complete appraisals" and "limited appraisals." The distinction between complete and limited appraisals depends on the amount of work performed in the collection and analysis of data.

uniform residential appraisal report