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Exterior-Only Inspection Residential Appraisal Report File # The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the

How to fill out exterior only appraisal form

How to fill out exterior only appraisal form:

1. Start by gathering all necessary information regarding the property's exterior. This includes any recent renovations or repairs, as well as the overall condition of the property.
2. Conduct a thorough inspection of the exterior, taking note of any damages, maintenance needs, or potential value-adding features.
3. Use the appropriate appraisal form, specifically designed for exterior only assessments, to document your findings. Fill in all required fields, such as property address, description, and size.
4. Provide detailed descriptions of the property's exterior components, such as the roof, siding, windows, and landscaping. Take note of any visible wear and tear, as well as the quality of materials used.
5. Take clear, high-quality photographs of the property's exterior from various angles. These visuals will support and enhance your written evaluation.
6. Consider any external factors that may affect the property's value, such as the neighborhood, proximity to amenities, and potential for future development.
7. Evaluate the overall condition of the property's exterior and provide an accurate assessment of its current market value. Consider any recent sales of similar properties in the area as a reference.
8. Sign and date the appraisal form, ensuring that all information provided is accurate and truthful.

Who needs exterior only appraisal form:

1. Homeowners who are looking to sell their property and want to assess its current market value for pricing purposes.
2. Buyers who are interested in purchasing a property solely based on its exterior appearance and do not require a full appraisal.
3. Real estate agents or brokers who need to determine the value of a property's exterior to better understand its marketability and potential sales price.

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What is exterior only appraisal form?

An exterior only appraisal form is a type of property appraisal where the appraiser evaluates the exterior of a property without conducting a full interior inspection. This type of appraisal is typically used when interior access to a property is not possible or when there is a time or cost limitation. The appraiser assesses the exterior condition of the property, including its size, style, construction quality, exterior features, and any observable defects or damages. However, since they do not have access to the interior, they cannot assess the overall condition, layout, or quality of the interiors. Exterior only appraisals are often utilized for properties that are easily visible from the exterior, such as single-family homes, and are typically less expensive and quicker to complete compared to full appraisals.

Who is required to file exterior only appraisal form?

The person who is required to file an exterior only appraisal form is typically the property owner or the party requesting the appraisal.

How to fill out exterior only appraisal form?

To fill out an exterior only appraisal form, follow these steps: 1. Review the form: Familiarize yourself with the appraisal form to understand the different sections and information required. 2. Property identification: Provide the necessary details about the property being appraised, such as the address, legal description, parcel number, and any other relevant identifying information. 3. Measurements: Measure the exterior dimensions of the property, including the length, width, and height, and record these measurements on the form. This includes any attached structures, such as garages or sheds. 4. Property condition: Assess and document the overall condition of the property's exterior, including the roof, siding, windows, doors, and any other significant features. Note down any visible damage or issues that may affect the property's value. 5. Exterior features: Identify and describe the various exterior features of the property, such as landscaping, outdoor structures (like decks or patios), fences, driveways, or any other elements that contribute to its curb appeal. Take photographs of these features if required. 6. Additional structures: If there are any additional structures on the property, such as detached garages or outbuildings, assess their condition, dimensions, and note any issues or improvements needed. 7. Neighborhood analysis: Research the neighborhood and its proximity to amenities like schools, shopping centers, parks, or transportation. Consider how these factors may impact the property's value. 8. Sales comparison: Compare the property's exterior to other similar properties that have recently sold in the area. Evaluate how they compare in terms of size, condition, features, location, and recent sales prices. This will help determine the property's market value. 9. Additional comments: Include any additional comments or observations that may be relevant to the appraisal, such as recent upgrades or deficiencies that might affect the property's value. 10. Signature and certification: Sign and date the appraisal form to certify its accuracy and completeness. Ensure you have provided all required information and attachments. Remember, it is essential to adhere to any specific instructions or guidelines provided by the appraisal form or the organization that requires the appraisal.

What is the purpose of exterior only appraisal form?

The purpose of an exterior only appraisal form is to determine the value of a property by assessing its exterior features without inspecting the interior. It is typically used when the appraiser is unable to access the property or it is not practical or cost-effective to conduct a full interior inspection. This type of appraisal is commonly employed for properties that are not currently occupied or for properties with limited access due to safety concerns or other reasons. The exterior only appraisal form allows the appraiser to assess the property's condition, overall quality, size, and external features such as the roof, siding, landscaping, and exterior improvements.

What information must be reported on exterior only appraisal form?

The specific information that needs to be reported on an exterior only appraisal form may vary depending on the appraisal report requirements set by the lender or client. However, some of the common information that is typically included are: 1. Property description: Detailed description of the property's location, size, type (e.g., single-family home, condominium, multi-family property), and any noteworthy characteristics. 2. Inspection details: Date of the inspection, name of the appraiser, and any relevant details about the inspection process. 3. Exterior condition: Assessment of the property's exterior condition, including the overall condition of the building and any visible damage or maintenance issues. 4. Site analysis: Description and analysis of the property site, including the size of the lot, topography, landscaping, and access to amenities, schools, and transportation. 5. Neighborhood analysis: Evaluation of the neighborhood characteristics, quality, and trends, including the type of housing, nearby commercial activities, crime rates, and general desirability of the area. 6. Comparable sales analysis: Identification and description of recent sales of similar properties in the area, including their location, size, condition, and proximity to the subject property. 7. Market value estimate: The appraiser's estimate of the property's market value based on the analysis of the above factors. Note that this list is not exhaustive and additional information may be required depending on the specific appraisal report guidelines and the intended use of the appraisal. It is essential to consult the appraisal form requirements and any applicable regulations or guidelines to ensure accurate and complete reporting.

What is the penalty for the late filing of exterior only appraisal form?

The penalties for the late filing of an exterior only appraisal form can vary depending on the specific regulations and policies of the organization or jurisdiction involved. In some cases, there may be a monetary fine imposed for late filing, while in others, there may be additional administrative fees or consequences. It is best to consult the specific guidelines or contact the relevant authorities to determine the exact penalties for late filing.

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