Freddie Mac 70 / Fannie Mae 1004 1993 free printable template

UNIFORM RESIDENTIAL APPRAISAL REPORT File No. Property Description Property Address City State Zip Code Legal Description County Assessor's Parcel No. Tax Year R.E. Taxes $ Special Assessments $ Current

How to fill out Freddie Mac 70 Fannie Mae 1004

How to fill out Freddie Mac 70 / Fannie Mae 1004

1. Start by obtaining the form Freddie Mac 70 / Fannie Mae 1004 from the appropriate source.
2. Fill in the borrower's information, including their name, address, and contact details.
3. Provide details about the property being appraised, such as its address, type, and current use.
4. Complete the property description section by noting any improvements, land size, and zoning information.
5. Fill out the market data information, including comparable properties and their sale prices.
6. Assess and document the condition of the property, using appropriate terms to describe its state.
7. Include a section for your analysis of the market and economic conditions related to the property.
8. Complete the summary of the appraisal process, including your opinion of value and the method used.
9. Sign and date the form, ensuring all information is accurate and complete.

Who needs Freddie Mac 70 / Fannie Mae 1004?

1. Mortgage lenders require the form to assess the value of a property for loan purposes.
2. Homebuyers and sellers may need it for real estate transactions to establish fair market value.
3. Investors use the appraisal to determine the worth of properties for investment decisions.
4. Financial institutions may request it for underwriting and risk assessment processes.
5. Real estate agents and brokers may need it to provide valuation reports to clients.

• Who needs a Uniform Residential Appraisal Report?
• What is the Uniform Residential Appraisal Report?
• Is the Uniform Residential Appraisal Report accompanied by other forms?
• • When is the Uniform Residential Appraisal Report due?
  • How do I fill out the Uniform Residential Appraisal Report?
  • Where do I send the Uniform Residential Appraisal Report?

Who needs a Uniform Residential Appraisal Report?

A private property owner fills out the report to provide the lender/client with an accurate and adequately supported opinion of the market value of the subject property. The intended user of this appraisal report is the lender/client.

What is the Uniform Residential Appraisal Report?

The Uniform Residential Appraisal Report (URAL form or Fannie Mae 1004 form) is one of the common forms utilized for real estate appraisal. It was created for analysis of conditions and evaluation of single-family dwellings or single-family dwellings with an “accessory unit” (including a unit in a planned unit development) but is not meant to be used for appraisals of manufactured homes or condominiums. Lenders will apply for the report each time a property is purchased or refinanced. All information provided in the report is used to appraise the actual value of the property.

Is the Uniform Residential Appraisal Report accompanied by other forms?

The fillable appraisal form is not accompanied by any other forms.

When is the Uniform Residential Appraisal Report due?

While you may never see an expiration date on a real estate appraisal forms, many lenders will not accept an appraisal that is more than 120 days old because the property values are changeable.

How do I fill out the Uniform Residential Appraisal Report?

There are several boxes you will need to fill out in the Uniform residential appraisal form: 1) Property Description; 2) Neighborhood and PUD (an overview of the history of that particular area); 3) Site (covers the property specs); 4) Value; 5) Final Determination.

The report requires interior and exterior inspection of the subject property, a street map that shows the location of the subject property, an exterior building sketch of the improvements that indicates the dimensions.

Where do I send the Uniform Residential Appraisal Report?

The Certified contract must be sent to the client/lender.

What is form 1004?

A URAR form, also known as Fannie Mae Form 1004, contains information needed to complete a full appraisal of a property using three primary approaches to determine value: cost approach, sales comparison approach and income approach. ... Basic information including address, legal description, owner's and/or borrower's names.

People Also Ask about

What is a 1004 URAR?

This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD).

What is a URAR form?

The Uniform Residential Appraisal Report (URAR) is widely considered to be one of the most common forms used in real estate appraisal. The form, which allows for standard reporting and analysis of single family dwellings, applies to a one-unit property or one-unit property with an accessory unit.

What does a 1025 appraisal include?

Appraisers fill out the form and insert data about the subject, neighborhood, comparable sales, valuation and more. Appraisers include additional data not part of the form such as pictures, maps, valuation analyses and more, depending on the property and assignment.

What is a 1025 appraisal form used for?

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.

What is the difference between 1004 and 1025 appraisal?

Keep in mind that Form 1004C is used for appraising single-family manufactured housing, while Form 1073 is used for condominium units. On the other hand, Form 1025 is for small multi-family investment properties.

How to fill self appraisal form?

How To Write A Self-Appraisal? Understand the use of self-appraisal. Highlight your accomplishments. Gather data to showcase your achievements. Align yourself with the team and company. Reflect objectively on challenges. Ask for growth opportunities. Ask for anything you require to improve. Get a second opinion.

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What is Freddie Mac 70 / Fannie Mae 1004?

Freddie Mac 70 and Fannie Mae 1004 are standard forms used for residential property appraisals in the United States.

Who is required to file Freddie Mac 70 / Fannie Mae 1004?

Appraisers are required to complete and file the Freddie Mac 70 / Fannie Mae 1004 forms when conducting residential property appraisals for loans that will be sold to or insured by Fannie Mae or Freddie Mac.

How to fill out Freddie Mac 70 / Fannie Mae 1004?

To fill out the Freddie Mac 70 / Fannie Mae 1004, appraisers must gather necessary property information, analyze market data, document their findings, and provide detailed descriptions and valuations according to the guidelines set by Fannie Mae and Freddie Mac.

What is the purpose of Freddie Mac 70 / Fannie Mae 1004?

The purpose of Freddie Mac 70 / Fannie Mae 1004 is to provide a standardized appraisal report that helps lenders assess the value of a property, ensuring consistency and reliability in the evaluation process.

What information must be reported on Freddie Mac 70 / Fannie Mae 1004?

The information that must be reported includes property details such as location, size, and condition, market analysis, comparable sales data, and the appraiser's overall opinion of value.