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Single Family
Interior/Exterior Appraisal Report (FNMA 1004/FHLMC 70)
- The standard Fannie Mae summary appraisal report
- Considers market value trends, supply and demand and
marketing times
- Provides indicated value by cost
approach, where appropriate
- Provides a sales
comparison analysis grid with indicated value by sales
comparison approach
- Quantitative adjustments to
comparable sales
-
Estimates a specific market value
Exterior Only Appraisal Report (FNMA 2055/FHLMC 2055)
- Summary appraisal report documentation but includes
extensive property information
- Provides quantitative
adjustments to comparable sales
- Estimates a specific
value
- Increases efficiency and reduces costs
Condo/PUD
Interior/Exterior Appraisal Report (FNMA 1073/FHLMC 465)
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Considers market value trends, supply and demand, and
marketing times
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Room count and actual square footage
by GLA
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Notes condition of improvements, depreciation,
repairs needed, and quality of construction
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Project
and phase information includes number of units, number
of units for sale, and number of units currently rented,
which allows assessment for any location risk within the
complex
Multi-Family Appraisal Report (FNMA 1025/FHLMC
72)
-
Small residential income property appraisal report
for two- to four-family residences
-
Provides
neighborhood, site, and improvement descriptions
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Provides general description of subjects physical
structure
-
Notes condition of improvements,
depreciation, repairs needed and quality of construction
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Includes an analysis of market rents, with rental
comparables
-
Sales comparison, income approach, and
cost approaches are all considered in estimating market
value
Single Family Comparable Rent
Schedule (FNMA 1007)
- Includes rental comparables in familiar grid format
- Reports estimated market rent
Operating Income Statement (FNMA 216)
- Reports income and expense projections for the next
12 months
- Helps estimate necessary cash reserve
Standard Desk Review
-
A review of an appraisal provided by a lender, to
determine if the opinion of
value in the appraisal is
reasonable.
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The subject property and comparables are not
inspected.
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The reviewer verifies lot size, GLA, sales price,
and date of sale for the
subject property and the
comparables.
Standard Field Review
-
A review of an appraisal provided by a lender, to
determine if the opinion
of value in the
appraisal is reasonable.
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The subject property and comparables receive an
exterior inspection from
the street.
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Photographs of the subject's front and street, as
well as the sales
comparable's front are
included.
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The reviewer verifies lot size, GLA, sales price,
and date of sale for the
subject property and the
comparables.
Appraisal Update and/or Completion Report
(FNMA 1004D)
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Update to a previous appraisal that was prepared
subject to
completion of
repairs or
incomplete items.
-
Notes items completed or still need to be
completed since time
of original
appraisal.
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Same appraiser performs re-inspection who
completed original
appraisal report.
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Allows lender to ascertain the current
construction status
of subject property
without incurring
the cost of another
appraisal.
Fees
Our fees are
competitive for the
Central Kentucky
area, however, as
there are so many
different types,
sizes, markets, etc.
of real estate we
cannot place a
single fee for each
service provided.
Our fees will vary
based upon several
aspects on the
property such as
location, market,
size, acreage, and
scope of work and
scope of inspection.
If you are a
lender/appraisal
management
company/loan officer
contact us and we
can customize a fee
sheet based upon
your needs so you
only pay for what
you need. If you are
a homeowner or need
a personal appraisal
contact us so we can
decide what type of
appraisal would best
serve your purpose
and you aren’t stuck
paying for extra
work which is not
beneficial for you
and may not suit
your needs.
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