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Market Conditions Addendum to the Appraisal Report A R K E T R E S E A R C H file No. The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market
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How to fill out 1004mc addendum
How to fill out 1004mc addendum
01
To fill out a 1004mc addendum, follow these steps:
02
Start by entering the subject property information, including the address and property type.
03
Provide the effective date of the market analysis in the appropriate field.
04
Enter the data for the comparable properties in the designated sections. This should include the location, time frame, and other relevant details.
05
Calculate the values for the key data fields, such as the median sale price and the median price per square foot.
06
Complete any additional required fields, such as the percentage of REO properties or the number of active listings.
07
Double-check all the entered information for accuracy.
08
Save the filled-out 1004mc addendum document in the appropriate format and submit it as required by the relevant entity or organization.
Who needs 1004mc addendum?
01
The 1004mc addendum is typically needed by real estate appraisers, lenders, and other professionals involved in the valuation of residential properties. It provides additional market analysis data for a specific property and its surrounding area.
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What is 1004mc addendum?
The 1004mc addendum is a form used in real estate appraisals to provide additional market data and analysis.
Who is required to file 1004mc addendum?
Real estate appraisers are required to file the 1004mc addendum as part of their appraisal reports.
How to fill out 1004mc addendum?
The 1004mc addendum is filled out by providing market data such as number of sales, list to sale price ratios, and marketing times for comparable properties.
What is the purpose of 1004mc addendum?
The purpose of the 1004mc addendum is to provide additional market analysis to support the appraiser's valuation of a property.
What information must be reported on 1004mc addendum?
Information such as number of sales, list to sale price ratios, and marketing times for comparable properties must be reported on the 1004mc addendum.
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