Residential Appraisals

This report is used for appraising manufactured homes. An interior and exterior inspection of the subject is completed. The appraiser develops and reports an opinion of value based upon the development of one or more of the three valuation methods: Sales Comparison Approach, Cost Approach, Income Approach.

Includes:

• Complete 1004C appraisal report
• Floor sketch based upon an exterior measurement
• Exterior and interior photos of the subject including the street
• Front view photos of each comparable property
• Location map with the subject and comparables plotted

This report is used to complete an Appraisal Update, a Final Inspection, or both.

The Appraisal Update is used to update the effective date of an existing appraisal report. This report is considered a new appraisal assignment and the appraiser will indicate if any changes have occurred to the subject’s market value since the time of the original report.

The Final Inspection Report is used for appraisals that were completed “Subject To.” This report will verify that the conditions of the original report have been met. The necessary portions of the subject property will be inspected.

This report format is used for appraising 2-4 unit residential income properties. An interior and exterior inspection of the subject is completed. The appraiser develops and reports an opinion of value based upon the development of one or more of the three valuation methods: Sales Comparison Approach, Cost Approach, Income Approach.

Includes:

• Complete 1025 appraisal report
• Floor sketch based upon an exterior measurement
• Exterior and interior photos of the subject including the street
• Front view photos of each comparable property
• Location map with the subject and comparables plotted

This report format is used for appraising individual Condominium units.  An interior and exterior inspection of the subject is completed. The appraiser develops and reports an opinion of value based upon the development of one or more of the three valuation methods: Sales Comparison Approach, Cost Approach, Income Approach as applicable.

Includes:

• Complete 1073 appraisal report
• Floor sketch based upon interior and exterior measurements
• Exterior and interior photos of the subject including the street
• Front view photos of each comparable property
• Location map with the subject and comparables plotted

This report format is used for appraising individual Condominium units. An exterior inspection of the subject is completed. The appraiser develops and reports an opinion of value based upon the development of one or more of the three valuation methods: Sales Comparison Approach, Cost Approach, Income Approach as applicable. 

Includes:

• Complete 1075 appraisal report
• Exterior and street scene photos of the subject
• Front view photos of each comparable
• Location map with the subject and comparables plotted

This report format is used for appraising single-family residences. An exterior-only inspection of the subject is completed. The appraiser develops and reports an opinion of value based upon the development of one or more of the three valuation methods: Sales Comparison Approach, Cost Approach, Income Approach as applicable.

Includes:

• Complete 2055 appraisal report
• Exterior and street scene photos of the subject
• Front view photos of each comparable property
• Location map with the subject and comparables plotted

These are inspection reports that are utilized to illustrate if the subject property conforms to prevailing local market norms in terms of any observable physical or functional inadequacies, adverse physical conditions, or if the subject property does not conform to the neighborhood. An interior and/or exterior-only inspection of the subject is completed. No opinion of value is provided.

Includes:

• Complete 2070 or 2075 inspection report
• Exterior and street scene photos of the subject
• Location map with the subject plotted
• *If an interior inspection is included then interior photos and a sketch may also be provided with this report.

These report formats are used for appraising Cooperative Interest properties. An interior and/or exterior inspection of the subject is completed. The appraiser develops and reports an opinion of value based upon the development of one or more of the three valuation methods: Sales Comparison Approach, Cost Approach, Income Approach as applicable.

Includes:

• Complete 2090 or 2095 appraisal report
• Floor sketch based upon interior and exterior measurements
• Exterior and interior photos of the subject including the street
• Front view photos of each comparable property
• Location map with the subject and comparables plotted

2000 Single-Family Field Review (Standard)

This report is designed to analyze an appraisal report completed on a single unit property by a different appraiser. The review appraiser analyzes all information and conclusions from the original report and completes an exterior-only inspection of the subject and comparable properties. A statement indicating if the value on the original report is supported and if the appraisal reflects compliance with USPAP or not will be provided, with analysis.

Includes:

• Complete 2000 Field Review report
• Exterior and street scene photos of the subject and comparables
• Location map with the subject and comparables plotted.

2000 Single-Family Field Review (Enhanced)

This report is designed to analyze an appraisal report completed on a single unit property by a different appraiser. The review appraiser analyzes all information and conclusions from the original report, completes an exterior-only inspection of the subject and comparable properties, and provides two additional comparables. A statement indicating if the value on the original report is supported and if the appraisal reflects compliance with USPAP or not will be provided, with analysis.

Includes:

• Complete 2000 Field Review report
• Sale Comparison Grid
• Exterior and street scene photos of the subject and all comparables
• Location map with the subject and all comparables plotted.

2000A Multi-Family Field Review (Standard)

This report is designed to analyze an appraisal report completed on a 2-4 unit property by a different appraiser. The review appraiser analyzes all information and conclusions from the original report and completes an exterior-only inspection of the subject and comparable properties. A statement indicating if the value on the original report is supported and if the appraisal reflects compliance with USPAP or not will be provided, with analysis.

Includes:

• Complete 2000A Field Review report
• Exterior and street scene photos of the subject and comparables
• Location map with the subject and comparables plotted

2000A Multi-Family Field Review (Enhanced)

This report is designed to analyze an appraisal report completed on a 2-4 unit property by a different appraiser. The review appraiser analyzes all information and conclusions from the original report, completes an exterior-only inspection of the subject and comparable properties, and provides two additional comparables. A statement indicating if the value on the original report is supported and if the appraisal reflects compliance with USPAP or not will be provided, with analysis.

Includes:

• Complete 2000A Field Review report
• Sale Comparison Grid
• Exterior and street scene photos of the subject and all comparables
• Location map with the subject and comparables plotted

Desk Review (Standard)

This report is designed to communicate our findings regarding the quality of another appraiser’s work product. The reviewer reviews the appraisal for completeness, consistency, compliance. No inspection of the subject or comparable properties is completed. A statement indicating if the value on the original report is supported and if the appraisal reflects compliance with USPAP or not will be provided, with analysis. 

Includes:

• Complete Desk Review appraisal report

Desk Review (Enhanced)

This report is designed to communicate our findings regarding the quality of another appraiser’s work product. The reviewer reviews the appraisal for completeness, consistency, compliance, and credibility, and provides two additional comparable sales. No inspection of the subject or comparable properties is completed. A statement indicating if the value on the original report is supported and if the appraisal reflects compliance with USPAP or not will be provided, with analysis. 

Includes:

• Complete Desk Review appraisal report
• Sale Comparison Grid
• Location map with the subject and comparables plotted

This report type is a less expensive option for residential appraisals in instances in which it is appropriate and is most commonly used by lenders for their HELOC lending programs, but can be used in certain instances for first mortgage  loans.  This is a technology-assisted appraisal report, performed by a local, licensed appraiser.

This report form is designed to report an appraisal of any type of property from one-unit, one-unit with an accessory unit; 2-4 unit; planned unit development (PUD), manufactured home; a condominium unit, or a cooperative project based on an interior and exterior inspection of the subject property.

Includes:

• Complete 1004 appraisal report
• Floor sketch based upon an exterior measurement
• Exterior and interior photos of the subject including the street
• Front view photos of each comparable property
• Location map with the subject and comparables plotted
• *The REO Addendum may or may not also be included which provides an itemized cost of repairs as well as an “as-is” and “as-repaired” value. A list of MPR repairs items would be substituted for the REO Addendum if the report is for HUD/FHA.

This report form is designed to report an appraisal of vacant residential land only.  An opinion of market value is developed by the appraiser most commonly through a comprehensive analysis of comparable vacant land sales in a sales comparison approach to value.

Includes:

• Complete Vacant Land Appraisal Report
• Exterior and street scene photos of the subject
• Front view photos of each comparable property
• Location map with the subject and comparables plotted