Most Common Appraisal Report Types (Forms)

Single-Family Residential Appraisal (1004)
This report is completed on the URAR form 1004 and provides the benefit of a full interior and exterior inspection of the subject property. This report is used to estimate the market value of the subject property as defined in Uniform Standard of Professional Appraisal Practice (USPAP). The product includes the following attachments: a completed URAR form, subject property photos including front, rear, street scene and any amenities substantially affecting marketability and/or value, comparable sales photographs, a floor plan sketch with exterior dimensions and gross living area calculations, location map showing accurate locations of the subject and all sales utilized in the report and appropriate certifications and limiting conditions.

Manufactured Homes (1004C)
All manufactured home appraisals are completed on the 1004C. Form 1004C will help to ensure that the appraiser inspected, considered, and/or reported (as applicable) the appropriate information including, but not limited to: manufacturer's name, trade or model name, year of manufacture, serial number, certification label number(s) from either the HUD date plate or certification label(s), type of foundation and utility connections, detailed and supported cost approach, opinion of the market value of the site and the property's conformity to the neighborhood.

Two-to-Four Unit Residential Appraisal (1025)
Appraisals of two-to-four unit residential properties are reported utilizing the Small Residential Income Property Appraisal Report. This report provides analysis of competitive listings, cost approach, an analysis of competitive rents, and a sales comparison analysis. Included in the attachments is a completed operating income statement. Other attachments in a two-to-four unit appraisal are: subject property photographs including a front, rear and street scene, photographs of the comparable rentals and comparable sales, location map detailing the locations of the subject and all rentals, listings and sales utilized in the report, a floor-plan sketch with exterior dimensions and gross living area calculations for each unit and appropriate certifications and limiting conditions.

Condominium Appraisal (1073)
Condominium appraisals are reported on the Individual Condominium Unit Appraisal Report and comply with USPAP guidelines. A full interior and exterior inspection of the subject unit is made and a concise analysis of the project and market are provided. Attachments comparable to those included with the single-family residential report are also included in the condominium report. Non-owner-occupied unit appraisals include a completed rent schedule and operating income statement.