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This Bulletin outlines the use of the Commercial/Industrial Appraisal Report Form for thrift institutions, indicating its authorization and expiration dates.

How to fill out commercialindustrial appraisal report form

How to fill out Commercial/Industrial Appraisal Report Form - Existing Property

1. Begin by gathering all necessary property information, including the property's address, legal description, and current ownership details.
2. Identify and document the property's type and use, specifying whether it is a commercial or industrial property.
3. Fill out the sections regarding property dimensions, including square footage, lot size, and the space allocated for various uses.
4. Provide details on the physical characteristics of the building, including construction materials, age, condition, and improvements made.
5. Complete the zoning and land use information, specifying the current zoning designation and any restrictions or allowances.
6. Include the income and expense data if applicable, detailing rent rolls, operating expenses, and any other financial performance indicators.
7. Document any comparable sales data if available, including recent sales of similar properties in the area.
8. Review and ensure all sections are completed accurately before submitting the report for evaluation.

Who needs Commercial/Industrial Appraisal Report Form - Existing Property?

1. Property investors seeking to understand the market value of a given property.
2. Lenders and financial institutions needing to assess collateral for financing.
3. Property owners looking to sell or refinance their property.
4. Insurance companies requiring an assessment of property value for coverage purposes.
5. Tax assessors determining property tax assessments.

People Also Ask about

What is a 1025 appraisal form used for?

Real estate appraisers and professionals rely on Form 1007 for accurate rent schedules, primarily for single-family homes as per Fannie Mae and Freddie Mac standards. This form plays a vital role in conducting market rent analyses that reflect the current market trends.

What is a 216 and 1007 appraisal form?

Form 1025 is also used by appraisers to assess income properties. It differs from the 1007 in that it is used to assess duplexes, triplexes, and fourplexes. Form 1025 considers both rental income and fair market value of the comparable properties.

What is a form 1007 or form 1025?

Market value appraisals, market rent appraisals, prospective appraisals. Retrospective appraisals are a few types of appraisals that are often required. The specific report format and type will depend on the purpose and intended use of the report. Most often report type in commercial appraising is the Narrative type.

What is form 1007 or form 1025?

On the other hand, the 1025 appraisal form is used for small, 2-4 unit properties (duplex, triplex, fourplex). Form 1007 is mostly centered around appraising the rental data of a single-family home, while 1025 takes into account both rental income and fair market value of the types of properties it's used to evaluate.

What type of appraisal report is most often used for commercial property?

The 1073 form is an appraisal form used by appraisers to appraise an individual inium unit. This form is for an interior and exterior inspection of a condo. This form was developed by Fannie Mae and Freddie Mac in 2005 for use in conventional lending purposes.

What is a 1007 form in a mortgage?

Conclusion. Form 1007 is used to document monthly rents of comparable properties when assessing real property value. The same considerations are made to determine the value of the property as in a standard appraisal, including age, condition, and description of the property and location.

For pdfFiller’s FAQs

What is Commercial/Industrial Appraisal Report Form - Existing Property?

The Commercial/Industrial Appraisal Report Form - Existing Property is a standardized document used by appraisers to assess the value of existing commercial or industrial properties. It provides a structured format for presenting findings, methodologies, and conclusions about the property's valuation.

Who is required to file Commercial/Industrial Appraisal Report Form - Existing Property?

Typically, real estate appraisers who conduct appraisals for lending institutions, real estate transactions, and property assessments are required to file the Commercial/Industrial Appraisal Report Form for existing properties.

How to fill out Commercial/Industrial Appraisal Report Form - Existing Property?

To fill out the form, appraisers must gather relevant property data, including location, size, and condition, and complete sections that detail the appraisal methods used, market analysis, and final value conclusions. Accurate documentation and compliance with local appraisal standards are essential.

What is the purpose of Commercial/Industrial Appraisal Report Form - Existing Property?

The purpose of the form is to provide a comprehensive and standardized valuation of existing commercial or industrial properties, which can be used for financing, sale transactions, tax assessment, or investment analysis.

What information must be reported on Commercial/Industrial Appraisal Report Form - Existing Property?

The report must include information such as property identification details, ownership, property type, physical characteristics, income and expense data, comparable sales analysis, as well as the appraiser's opinions and conclusions regarding the property's value.