Get the free Fannie Mae Form 1073 Instructions

Fannie Mae Form 1073 Instructions Form instructions are appended to the back of each individual form (with a few Form 1073A, Analysis of Annual Income and ExpensesOperating Budget. Checklist (Form

How to fill out fannie mae form 1073

How to fill out fannie mae form 1073

1. To fill out Fannie Mae Form 1073, follow these steps:
2. Begin with the Borrower's Information section. Fill in the required details such as the borrower's name, social security number, and address.
3. Move on to the Subject Property Information section. Provide accurate information about the property being appraised, including the address, legal description, and any other relevant information.
4. Complete the Appraisal Report section. This is where you'll provide details about the appraisal, including the effective date, intended user(s), purpose of the appraisal, and any certifications or assumptions made during the process.
5. Provide the Sales Comparison Approach in the next section. Include the details of comparable sales that were used to determine the property's value.
6. Next, enter the Cost Approach. This section requires information on the cost to build a similar property and the depreciation factors.
7. Finally, complete the Income Approach if applicable. This section is typically used for income-producing properties and requires rental and expense information.
8. Review the completed form for accuracy and make any necessary corrections before submitting it.

Who needs fannie mae form 1073?

1. Fannie Mae Form 1073 is needed by various parties involved in the real estate industry. The form is typically required by lenders, appraisers, and underwriters for mortgage loan purposes. It helps to assess the value of a property and ensure that it meets the necessary requirements for financing. Borrowers may also need to provide this form when applying for a mortgage loan.

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What is fannie mae form 1073?

Fannie Mae Form 1073 is the Individual Condominium Unit Appraisal Report used by lenders to evaluate individual condominium units.

Who is required to file fannie mae form 1073?

Lenders or appraisers are required to file Fannie Mae Form 1073 when evaluating individual condominium units.

How to fill out fannie mae form 1073?

Fannie Mae Form 1073 must be filled out by providing detailed information about the individual condominium unit being appraised, including its condition, market value, and comparable sales data.

What is the purpose of fannie mae form 1073?

The purpose of Fannie Mae Form 1073 is to provide a standardized format for reporting the appraisal of individual condominium units to ensure consistent evaluation by lenders.

What information must be reported on fannie mae form 1073?

Information such as property details, market value, comparable sales data, and the condition of the individual condominium unit must be reported on Fannie Mae Form 1073.