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This document represents an appraisal for a condominium unit located at 111 East 13th Avenue, Anchorage, Alaska, to estimate the property's market value for financing purposes.
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How to fill out individual condominium unit appraisal
How to fill out Individual Condominium Unit Appraisal Report
01
Start by gathering property information: address, unit number, and owner details.
02
Fill out the client information section including name, contact information, and purpose of appraisal.
03
Describe the property type by noting down whether it's a standalone unit or part of a larger association.
04
Input data on the condominium features: number of bedrooms, baths, square footage, and any amenities.
05
Include information on the location and neighborhood, highlighting nearby schools, parks, and transportation options.
06
Conduct a comparable sales analysis by researching recent sales of similar condominium units in the area.
07
Fill in the appraisal value section, providing your opinion based on the analysis and market data.
08
Complete the certification section, ensuring that it adheres to relevant appraisal standards.
09
Review the entire report for accuracy before submission.
Who needs Individual Condominium Unit Appraisal Report?
01
Potential buyers looking to assess the value of a condominium unit.
02
Homeowners seeking to refinance their mortgage.
03
Banks and lenders requiring an appraisal before approving a loan.
04
Real estate agents needing a professional valuation for sales purposes.
05
Investors evaluating the worth of their investment property.
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People Also Ask about
How do you write an appraisal report?
When you fill the form: Be honest and critical. Analyze your failures and mention the reasons for it. Keep the words minimal. Identify weaknesses. Mention your achievements. Link achievements to the job description and the organization's goals. Set the goals for the next review period. Resolve conflicts and grievances.
What is a 465 appraisal form?
Form 465 is designed to report the results of an appraisal of a 1-unit property in a Condominium Project, whether attached or detached. An interior and exterior inspection of the subject property is required. For an appraisal of a 1-unit property in a Condominium Project using only an exterior inspection, see Form 466.
What is the most common appraisal report form?
The Uniform Residential Appraisal Report (URAR) is widely considered to be one of the most common forms used in real estate appraisal.
What are appraisal forms?
An appraisal form is a document that managers and human resources staff use to evaluate the performance of employees. The form often includes ratings and room for comments on performance. On an appraisal form, managers keep track of employees' achievements and contributions during a specific period.
What is the appraisal form for a condo?
Individual Condominium Unit Appraisal Report ( Form 1073) For traditional appraisals of one-unit properties in condo projects based on interior and exterior property inspections. Appraisals reported on Form 1073 must be completed in accordance with the UAD Specification.
What is a 1073 condo appraisal?
The 1073 form is an appraisal form used by appraisers to appraise an individual condominium 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 do you write in an appraisal form?
When you fill the form: Be honest and critical. Analyze your failures and mention the reasons for it. Keep the words minimal. Identify weaknesses. Mention your achievements. Link achievements to the job description and the organization's goals. Set the goals for the next review period. Resolve conflicts and grievances.
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What is Individual Condominium Unit Appraisal Report?
An Individual Condominium Unit Appraisal Report is a document that provides a detailed assessment of a specific condominium unit's value, considering factors such as location, condition, comparable sales, and market trends.
Who is required to file Individual Condominium Unit Appraisal Report?
Typically, property owners, real estate agents, lenders, or financial institutions are required to file an Individual Condominium Unit Appraisal Report when seeking financing, selling, or reassessing the value of a condominium unit.
How to fill out Individual Condominium Unit Appraisal Report?
To fill out the Individual Condominium Unit Appraisal Report, one must provide details about the condominium, including its physical characteristics, location, comparables, market analysis, and valuation methods used. It often includes specific forms and guidelines set by appraisal standards.
What is the purpose of Individual Condominium Unit Appraisal Report?
The purpose of the Individual Condominium Unit Appraisal Report is to determine the fair market value of a condominium unit, which aids buyers, sellers, and lenders in making informed decisions regarding real estate transactions.
What information must be reported on Individual Condominium Unit Appraisal Report?
The report must include the unit's description, location, size, condition, comparable sales data, market analysis, and the appraiser's professional opinion of value.
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