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FAM Area Alternative do Marco 10/09/2016 10:00 Fannie make form 1004 in Excel or Microsoft Word Reforested the Mae Terra Esso Esclarecimento 10/09/2016 15:00 Fannie make form 1004 in Excel or Microsoft
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How to fill out fannie mae form 1004
How to fill out Fannie Mae Form 1004:
01
Start by carefully reading the instructions provided with the form. It is essential to understand the requirements and guidelines before filling in any information.
02
Begin by providing general information, such as the subject property address, the name of the appraiser, and the date of the appraisal.
03
Next, gather relevant information about the property, such as its legal description, lot size, and zoning. Include any improvements, such as additions or renovations.
04
Describe the property's condition and note any adverse conditions that may affect its value. This may include issues with the structure, functionality, or safety.
05
Evaluate the neighborhood where the property is located. Consider factors such as proximity to schools, shopping centers, and transportation, as well as the overall desirability and stability of the area.
06
Research and analyze comparable properties that have recently sold in the same area. Compare their characteristics, such as size, condition, and location, to the subject property. Adjust the value of the subject property accordingly.
07
Determine the market value and provide an opinion of the highest and best use of the property.
08
Summarize your findings, including any limitations, explanations, or qualifications to your appraisal.
09
Sign and date the form, including your professional certification, and attach any supporting documentation required by Fannie Mae.
Who needs Fannie Mae Form 1004:
01
Real estate appraisers who are conducting appraisals for properties that will be financed or guaranteed by Fannie Mae.
02
Lenders and financial institutions that require an objective evaluation of a property's value before approving a loan.
03
Homeowners or sellers who want to understand the fair market value of their property before listing it on the market or making financial decisions.
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What is fannie mae form 1004?
Fannie Mae Form 1004 is a Uniform Residential Appraisal Report used by appraisers to report the estimated value of a property.
Who is required to file fannie mae form 1004?
Lenders and banks are required to request the completion of Fannie Mae Form 1004 by a licensed appraiser before approving a mortgage loan.
How to fill out fannie mae form 1004?
Fannie Mae Form 1004 must be filled out by a licensed appraiser, providing detailed information about the property's condition, features, and comparable properties in the area.
What is the purpose of fannie mae form 1004?
The purpose of Fannie Mae Form 1004 is to provide an accurate estimate of the property's value to help lenders make informed decisions when approving mortgage loans.
What information must be reported on fannie mae form 1004?
The appraiser must report the property's physical attributes, condition, comparable sales, and an estimated value based on market analysis.
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