What is an appraisal form 1025?

The Small Residential Income Property Appraisal Report (FHLMC 72/FNMA 1025) is for the appraisal of two- to four-unit properties, including properties in PUD, condo or co-op projects. Data indicating physical characteristics of the subject property such as age, materials and condition.

What is a 1004MC appraisal form?

The Market Conditions Addendum (Form 1004MC) is designed to enhance the transparency of the market trends and conditions conclusions made by the appraiser. The Market Conditions Addendum will be required with all one- to four-unit property appraisals performed on or after April 1, 2009.

Is 1004MC required?

Appraisers will no longer be required to fill Form 1004MC, a market conditions addendum that was removed by Fannie Mae when it released its new Selling Guide updates this week. The form has been a key requirement for appraisers since 2009, having been created in direct response to the housing crisis.

What is 1004MC form type used for?

What is a 1007 appraisal addendum for?

Hereof, what is a 1007 appraisal? Rental Survey ( 1007 ) Used to provide an estimate of the market rent of a property based on similar, comparable rentals in the area. Description: The Single Family Comparable Rent Schedule Form 1007 is intended to provide an appraiser with a familiar format to estimate the market rent of a property.

What do you need to know about a 1073 appraisal?

What is a 1073 appraisal? 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 kind of appraisal is required on Form 1004?

Appraisals reported on Form 1004 must be completed in accordance with the UAD Specification. For appraisals of one-unit manufactured homes (including manufactured homes in a PUD, condo, or co-op project, and MH Advantage properties) based on interior and exterior property inspections.

Who is the intended user of the appraisal report?

“The intended user of this appraisal report is the lender/client. The intended use is to evaluate the property that is the subject of this appraisal for a mortgage finance transaction, subject to the stated scope of work, purpose of the appraisal, reporting requirements of this appraisal report form, and definition of market value.