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Appraisal report form

property address city state zip code you must enter addresses that conform to the United States Postal Service address standards in publication 28 when you get your location Maps the software will automatically rewrite your addresses into the proper format and data wherever possible keep in mind that Street will change to St Crossing will change to Xing and so forth this is part of the USPS pub 28 standard and is a u ad requirement for this field if the legal address is different from the physical USPS address put the physical USPS address on the form and then put the legal address in the addendum Pio boxes are not acceptable see Fannie Mae's UAD FAQ document linked at the bottom for more detail on certain non-standard scenarios county enter the name of the county in which the subject property is located if the subject property is not located in any County for instance if the subject property is located in an independent City enter the name of the local municipality or district in which the property is located assessors parcel number enter any available assessors parcel numbers that would further identify the subject parcel or property separate multiple parcel numbers with a semicolon the parcel numbers should be in the same format used by the taxing agency including all spaces and dashes as applicable if no parcel number is available enter none do not leave this field blank tax year and real estate taxes enter the four-digit tax year if the tax year spans two calendar years enter the first year only in the taxes field report the amount of taxes payable on the subject property expressed as an annual or annualized amount if real estate taxes are payable to more than one entity enter the annualized sum of all real estate taxes not including special assessments additional information about tax years or tax amounts may be provided elsewhere in the appraisal report set as the addendum neighborhood name enter a neighborhood name it may be a name recognized by the municipality in which the property is cited such as a subdivision name if there is not a neighborhood name recognized by the municipality enter the common name by which residents refer to the location do not enter none or n/a as residents wouldn't refer to an area as n/a however North East Caddo County would be appropriate if there is no subdivision name and that is how residents refer to the location occupant indicate whether the subject property is occupied by the owner or tenant or is vacant as of the effective date of the appraisal only one selection is permitted meaning the checkboxes are mutually exclusive for properties that are comprised of one unit with an accessory unit the selection must reflect the occupancy status of the main unit additional information regarding the occupancy of any accessory unit may be provided elsewhere in the appraisal report such as an addendum special assessments enter any special assessment applicable to the subject property it must be expressed as an annual or annualized amount if there is more than one special assessment enter the annualized sum of all special assessments if there are no special assessments applicable to the subject property enter the number 0 remember to not leave this field blank additional information about special assessments may be provided elsewhere in the appraisal report such as an addendum the software will round this number to the nearest whole dollar for you if necessary PUD check box indicate if the property is located in a Planned Unit development if the checkbox is indicated you must select yes or no in response to the question is the developer builder in control of the HOA which is located in the PUD information section HOA amount enter all applicable homeowners association fees associated with the subject property the software will round this number for you if necessary additionally you must select the appropriate checkbox to indicate if the amount is payable per year or per month only one selection is permitted if the amount is paid on a different frequency for instance by monthly or semi-annually you must convert the amount to either per year or per month if there are multiple fees assessed such as for an HOA and a master association first convert the fees to the appropriate frequency if necessary and then report the total of all fees in this data field for instance if the property is subject to a monthly HOA fee and a quarterly Master Association fee the quarterly fee must be converted to a monthly fee and added to the monthly HOA fee if there are no HOA fees applicable to the subject property enter the number zero do not leave this field blank additional information about HOA fees frequency of payments and so forth may be provided elsewhere in the appraisal report or an addendum if necessary note for appraisals of condominium units the amount of any applicable condominium association fees must be included in the HOA fees section assignment type indicate the transaction type for the assignment purchase refinance or other only one selection is permitted if you select other you must provide a description lender client enter the name of the lender do not append the AMC named after the lender name do not leave this field blank you'll put the AMC name on the last page of the form in the appraisers certification section this field has a character limit of 48 letters is the subject property currently offered for sale or has it been offered for sale in the 12 months prior to the effective date of the appraisal identify whether the subject property is currently offered for sale or has been offered for sale in the 12 months prior to the date of the appraisal by selecting either yes or no if the answer is no cite your data source in the comment field if the answer is yes you must report days on market the original offering price and a history of price changes and dates if any you must also the data sources used to obtain the offering information the giasses have redefined days on market to be continuous Dom not cumulative Dom this means that if the property is off the market for a single day Dom resets don't forget to include for sale by owner time where appropriate if you cite your County records as a data source you can still say County records however if you cite your MLS as a data source you must use the new formula of the MLS abbreviation followed by the pound sign followed by the listing number for instance if I were to cite the Oklahoma City metropolitan Association of Realtors MLS listing number I would represent that as OKC MA our pound sign and then the number this will be the new definition of Dom and the formula for signing your MLS in all other UAD fields that ask for data source and/or Dom in the comment field the GSEs have not specified any order or format for listing price date or source with the exception of how to list your MLS citations so you can put this data in any order you like and separate the components however you like so long as it makes sense if the subject property was offered for sale by owner or otherwise marketed for sale outside of an MLS report the original offering price history of price changes if any and the dates the property was offered for sale to the extent that this information is known or available to you in the normal course of business I did did not analyze the contract for sale for the subject purchase transaction indicate whether you performed an analysis on the contract for sale if you choose no enter an explanation of why the analysis wasn't performed into the analysis field if you choose yes you must also indicate the type of sale for this transaction from a list of available choices start at the top of the list and select the first sale type that applies only one selection is permitted after selecting a valid sale type enter an explanation of the results of the analysis of the contract or why the analysis was not performed any overflow in the analysis field will automatically overflow to your addendum contract price you must enter an amount in this field if the assignment type is a purchase transaction contract price must be the same as the sales price for the subject property in the grid date of contract you must enter a contract date if the assignment type is a purchase transaction is the property seller the owner of public record indicate yes or no if the assignment type is a purchase transaction is there any financial assistance you must indicate yes or no if the assignment type is a purchase transaction if no is selected the software will automatically put the number 0 into the dollar amount field if yes is selected enter the total dollar amount of all financial assistance loan charges sale concessions gift or down payment assistance and so forth that is paid by any party on behalf of the borrower including any closing costs or other payments from the seller or other third party if you are not able to determine a dollar amount for all or part of the financial assistance the number must reflect the total known dollar amount don't guess or estimate the total amount in the currency field only put the set amounts that you know about in the currency field leave this field blank if the entire financial assistance amount is unknown if there is any financial assistance for which you don't know the exact amount check the appropriate box and the text there is a financial assistance amount that is unknown will appear in this field next provide a description of the items being paid note financial assistance or concessions paid by any party on behalf of the borrower include both monetary and non-monetary items including below market rate mortgage financing gifts of personal property payment of property taxes and/or HOA dues for a period of time and so forth neighborhood characteristics location built-up growth property values demand supply and marketing time are all required and each answer is mutually exclusive for instance you may no longer select urban and suburban at the same time one unit housings price and age fields our numbers only fields using plus / - or a range in the predominant field is no longer allowed you must indicate a whole number only if you believe the number you indicate in this field is incomplete or misleading you must comment on it in your addendum for use PAP compliance neighborhood boundaries provide an outline of the neighborhood boundaries which should be clearly delineated using north south east and west these boundaries may include but are not limited to streets legally recognized neighborhood boundaries waterways or other natural boundaries that define the separation of one neighborhood from another do not reference a map or other addendum as the only example of the neighborhood boundaries area for sites and parcels that have an area of less than one acre report in square feet for sites and parcels that have an area of one acre or greater report in Anchorage to two decimal places the unit of measure must be indicated as either SF for square feet or AC for acres the total size of the entire site or parcel must be entered no other data is permitted the same UAD requirements applied to the site field on the grid also while the dimensions field itself has no UAD requirements you can still use the calculator in that field for rectangular properties and the software will put the appropriate response with abbreviation into the area field for example if you put 120 X 320 into the dimensions field the software will then place 38 400 SF into the area field for you view start by selecting whether the view is neutral beneficial or adverse to the marketability of that property you must also provide at least one but not more than two view factors from the list below to provide details about the overall view ratings selected above if a view factor not on this list materially affects the value of the subject property select other then enter a description of the view associated with the property the description entered must allow a reader of the appraisal report to understand what the view associated with the property actually is descriptors such as none in a typical average etc are unacceptable descriptions should be entered carefully because the same text will be represented in both the site section and the comparable sales grid for the subject property the text must fit in the allowable space the software will take care of any necessary formatting and abbreviations for this field note that the GSEs have not defined any of the terms for the factor lists the description field is only for use when you select other note the UAD does not limit the number of different view factors associated with the property that may be reported in the appraisal report if there are more than two factors you may choose other and then enter a text description of the multiple view factors to the extent that the description fits within the allowable space on the report form any additional information that does not fit in the allowable space may be reported elsewhere in the appraisal report such as an addendum utilities indicate for each utility whether it is public and/or other utilities include electricity gas water and sanitary sewer you must also enter a description if you select other if the utility is not present enter none in the description field note the description fields are only UAD fields if you select other or don't check either box this means that if you check public you can still use the description field to indicate city of street and alley indicate whether the street or alley type is public and or private enter none in the appropriate description field if there is no Street or alley the description fields are only UAD fields if you don't check either box this means that if you check public you can still use the description field to indicate asphalt for instance number of stories indicate the number of story for the subject property do not use any designators or descriptors such as one story or one story and a half you may use up to two decimal places the GSEs haven't defined what a story is so you should use that term however it's used or defined in your market area for condominiums enter the number of stories for the building in which the subject unit is located design and style here is the exact text of the UAD guidance for the design and style field enter an appropriate architectural design style type descriptor that best describes the subject property valid descriptions include but are not limited to colonial Rambler Georgian farmhouse do not use descriptors such as brick two storeys average conventional or typical as these are not architectural styles design style names may vary by locality you should report the name of the design style that is applicable within the local market area now while the GSE say to use the style applicable in your area you must still do so within the guidelines provided you cannot talk about the materials used in construction you cannot discuss the levels including split-level and you cannot use non specific words like typical or even traditional we know that some areas consider split-level to be an architectural style but the UAD guidance says that stories and levels are not architectural styles technically this makes some sense you can have a split-level Victorian a split-level ranch a split-level modern and so forth traditionally most split levels are a version of the ranch style but again this will depend on the market area since many areas use the term split-level slightly differently a lack of an industry standard authoritative list for current architectural styles makes this field somewhat difficult for many appraisers none of the sources that we've seen agree with each other which means that each market area will have to organically determine which style names to use year built indicate the year the subject property built if it is unknown or unavailable to you within the normal course of business estimate the year the subject property was built and indicate that the number is an estimate by using a Tildy at the beginning of the number this field is related to the actual age field on the grid so you're allowed to indicate an estimation with a Tildy in both fields these two fields are the only UAD numbers only fields where a Tildy is allowed basement area basement finished percent indicate the basement size in square feet and the percentage of the basement that is finished if there is no basement enter the number 0 in the top field and the software will automatically put a 0 in the % field heating and cooling select the heating and or cooling types when reporting on the 1004 and 2055 forms if there is no heating or cooling source check other and enter none when using the 10 73 or 1075 forms if there is no heating source put none in the heating type field and if there is no cooling source check other and enter none amenities select the appropriate check boxes to indicate the amenities available put a 0 in the appropriate space if there are no fireplaces or wood stoves put none in the appropriate space if there is no patio deck pool fence porch or other amenity don't leave any of the number or description fields blank including the other field in a is not an acceptable response for a text field remember to use none where appropriate car storage driveway garage carport indicate whether the subject property has a driveway garage and/or carport or has no car storage if the subject property has a driveway garage and or carport enter the number of spaces for each type if none enter the number 0 finished area above great rooms enter the total number of finished rooms above grade whole numbers only finished area above grade baths enter the total number of full baths and partial baths above grade and use the new UAD formula a 3/4 bath is to be counted as a full bath in all cases do not count quarter baths the number of full and half baths must be entered separated by a period the full bath count is represented to the left of the period and the half bath count is represented to the right of the period that's your formula so a one full one half bath is represented as 1.1 one full two half is 1.2 one full three half is 1.3 and so on this is no longer a strictly numeric account it's a formula an explanation of the bathroom count is included in the three-page standard you ad addendum that can be added to your report square feet of gross living area above grade enter the total square footage of the above grade living area the software will round this number for you if necessary describe the condition of the property start by choosing an overall condition of the property using c1 through c 6 only one selection is allowed here and will be what transfers to the grid remember that when you are picking an overall condition rating you must not compare it to other properties only to the text of the definitions you can no longer think in terms of four properties of this age or four properties in the neighborhood or even four properties in this report the property either does or does not match the definition not every part of each definition need apply when you make a selection for clarity we recommend that you comment on which pieces of the ratings definition caused you to choose it we highly recommend that you watch the section of our UAD class about the condition and quality ratings the links to that class are at the bottom of the page if there hasn't been any material work done to the kitchens or bathrooms in the prior 15 years check the box and move to your comments below where among your other comments on condition you should indicate the basis for this determination and describe the efforts undertaken to obtain that information if any of the kitchens or bathrooms have been updated or remodeled in the last 15 years leave the box alone and move to the pull downs to provide additional information for kitchens and bathrooms not updated updated and remodeled are terms defined by the GSEs for UAD purposes you can find the exact definitions in the software both in the infield guidance and in the three-page UAD definitions addendum which you can include as a form with your report once you indicate the level of work completed give a timeframe for each notice that unknown is an option now move to your comment field where among your other comments on conditions you must indicate the basis for the above determinations and describe the efforts undertaken to obtain that information the UAD does not limit the information that you may provide about the condition of a property including any update or remodeling an appraiser can and provide any additional information required to communicate an appraisal in a manner that is meaningful and not misleading including providing sufficient information to enable the client and any other intended user to understand the appraisers conclusions regarding the property condition and any updates or remodeling proximity to subject enter the proximity of the comparable sales to the subject property expressed as a distance in miles and using the formula displayed the software will calculate this for you automatically when you get your location map if the address cannot be geo coded to the mapping utility drag the balloon pointer in the map to a location as close as possible to the address of the comp so that the software can still calculate an accurate proximity sale price enter the sale price of the subject property if applicable and each comparable property the sale price for the subject property must match the contract price you reported in the contract section the software will round to the nearest whole dollar for you when necessary if any of the comparable properties is a listing or pending sale you must enter the offering price or contract price as applicable data sources provide the data source utilized to obtain the data for each comparable sale the GSEs have redefined days on market to be continuous Dom not cumulative Dom this means that if the property is off the market for a single day Dom resets don't forget to include Fizbo time where appropriate if you cite your county records as a data source you can say county records if you cite your mls as a data source however you must use the new formula of MLS abbreviation pound sign and listing number for instance if I were to cite the Oklahoma City metropolitan Association of Realtors MLS listing number I would represent that as OKC ma are pound and then the number this will be the new definition of dom and the formula for citing your mls in all other UAD fields that ask for data source and/or dom if you utilize additional data sources that do not fit into this data field they must be provided in the comment section on your addendum if days on market is unknown enter UNK sale or financing concessions indicate the sale type for each comparable property in the top field using the options in the pulldown if more than one cell type applies to the comparable property start at the top of the list and identify the first sale type that applies on the second line choose the financing type from the list and the total amount of concessions if any for each settled sale if there are no sales or financing concessions enter the number zero if the financing type is not on this list choose other and enter a description of the financing type the text must fit into the allowable space note below market financing can have an impact on market values and therefore is of particular importance a variety of government programs such as state and local bond programs provide below market financing you must indicate if sales transactions with below market financing are used for comparable sales date of sale the instructions can seem complicated for this field if so just enter all the data you have into the fields provided and the software will determine how to populate the field on the grid for instance if it's a settled sale and you know the contract date indicate that with the pulldown and check box and then fill in those date fields the software will do the rest for you note that the date format for this field is the exception to the general UAE date format rule use the two digit month two digit year format location start by selecting whether the location is neutral beneficial or adverse to the marketability of the property you must also provide at least one but not more than two location factors from the list below to provide details about the overall rating selected above if a location factor not on this list and it materially affects the value of the subject property select other then enter a description of the location associated with the property the description entered must allow a reader of the appraisal report to understand what the location associated with property actually is descriptors such as none in a typical average etc as well as subdivision names are not acceptable the text must fit into the allowable space the software will take care of any necessary formatting and abbreviations for this field note that the GCS have not defined any of the terms for the factor lists the description field is only for use when you select other note that the UAD does not limit the number of different location factors associated with the property that may be reported in the appraisal report if there are more than two location factors you may choose other and then enter a text description of the multiple location factors to the extent that the description fits within the allowable space on the report form any additional information that does not fit into the allowable space may be reported elsewhere for instance in an addendum for sites and parcels that have an area of less than one acre the size must be reported in square feet for sites and parcels that have an area of one acre or greater the size must be reported in Anchorage to two decimal places the unit of measure must be indicated as either SF for square feet or AC for acres the total size of the entire site and parcel must be entered no other data is permitted in this field the requirements are likely to give you some properties listed in square footage and others and acres in the same report this will likely make your adjustments more difficult few the requirements for the comps grid is the same for the view field on page one for the subject start by selecting whether the view is neutral beneficial or adverse to the marketability of the property you must also provide at least one but not more than two view factors from the list below to provide details about the overall view ratings selected above if a view factor not on this list materially affects the value of the subject property select other then enter a description of the view associated with the property the description entered must allow a reader of the appraisal report to understand what the view associated with the property actually is descriptors such as nan na typical average etc are not acceptable the text must fit into the allowable space the software will take care of any necessary formatting and abbreviations for this field note that the GSEs have not defined any of the terms for the factor lists the description field is only for use when you select other note the UAD does not limit the number of different view factors associated with the property that may be reported in the appraisal report if there are more than two view factors you may choose other and then enter a text description of the multiple view factors to the extent that the description fits within the allowable space on the appraisal report form any additional information that does not fit into the allowable space may be reported elsewhere in the appraisal report like an addendum quality of construction start by choosing an overall quality of construction for the property using q1 through Q 6 only one selection is allowed remember that when you are picking an overall quality rating you must not compare it to other properties only to the text of the definitions you can no longer think in terms of for properties of this age or for properties in the neighborhood or even for properties in this report the property either does or does not match the definition not every part of each definition need apply when you make a selection for clarity we recommend that you comment on which pieces of the ratings definition caused you to choose it we highly recommend that you watch the section of our UAD class about the condition and quality ratings the links to that recording are at the bottom of the page actual age report the actual age of the subject property and each comparable property for new construction that is less than one year old enter the number 0 do not enter any additional information such as years or other descriptors if the actual age is unknown enter the estimated age and use the Tildy this field is related to the year built field on the grid so you're allowed to indicate in estimation with the Tildy in both fields these two fields are the only you ad numbers only fields where a Tildy is allowed also do not use the actual age field for effective age if you want to adjust for effective age use one of the three blank fields at the bottom of the grid under porch patio deck condition start by choosing an overall condition of the property using c1 through c 6 only one selection is allowed remember that when you are picking an overall condition rating you must not compare it to other properties only to the text of the definitions you can no longer think in terms of 4 properties of this age or 4 properties in the neighborhood or even 4 properties in this report the property either does or does not match the definition not every part of each definition need apply when you make a selection for clarity we recommend that you comment on which pieces of the ratings definition caused you to choose it we highly recommend that you watch the section of our UAD class about the condition and quality ratings the links to that class are at the bottom of the page above grade room count and gross living area enter the total number of rooms as well as the number of bedrooms and bathrooms for the subject property and each comparable property enter the gross living area for the subject property and each comparable property follow the same standards outlined in the improvements section on page 1 including the new standard for the bathroom count basement and finished rooms below grade on line one report the total square footage of the basement the total finished square footage of the basement and whether the basement exit is walk out walk up or interior only don't leave any of these fields blank if you don't have some piece of information for instance if you're in a non disclosure state enter an estimated amount then note the intent of the estimation and source in the addendum if you choose zero in the first square footage field for instance if there is no basement the software will automatically populate the remaining fields with zero accordingly if there is any finished square footage in the basement you must report the number of each type of finished rooms online to enter the number zero if there are no rooms of a particular time if the finished square footage of the basement is zero no entries should be made for the basement room type counts the bathroom count is the same as it is everywhere else so a half bath is only represented as 0.1 energy-efficient items enter any energy efficient items for the subject property and each comparable property if there are no energy efficient items enter none don't leave this field blank talk about the energy efficient items however you like just make sure to populate the abbreviations addendum with any of your own abbreviations garage and carport indicate the total number and type of off street parking spaces associated with the subject property and each comparable if there is no off street parking enter none this is another field where formatting doesn't matter so long as you don't leave it blank as long as you talk about the number and type of off street parking you can do that however you like just make sure to populate the abbreviations addendum with any of your own abbreviations the adjustment fields the only rule for adjustment fields is that if the description for the subject differs in any way from the description for the comparable you must put a number into the adjustment field even if that number is zero which would indicate obviously that you are intentionally not making an adjustment my research did or did not reveal you must select the appropriate checkbox to indicate did or did not for this statement only one response is permitted for each of these two statements date of prior sale or transfer report the date of prior sale or transfer of the subject property for three years prior to the effective date of the appraisal and twelve months for each comparable prior to its sale this is an exception to the general rule about leaving you ad fields blank if there is no prior sale or transfer leave the field blank if there's more than one prior sale or transfer in the time frame required list the most recent one in this field then comment and list the others in the analysis field price of prior sale or transfer report the price of prior sale or transfer the subject property for the three years prior to the effective date of the appraisal and any comparable property during the 12 months prior to its date of sale this field is also an exception to the general rule about leaving you ad fields blank if there is no prior sale or transfer leave the field blank if there's more than one prior sale or transferring the time frame required list the most recent one in this field then comment and list the others in the comment field the software will add the required dollar sign if you forget it in some jurisdictions the price of prior sale or transfer is not disclosed in the public records or is not otherwise available to the appraiser within the normal course of business in such cases you may leave this field blank and make a comment in the analysis of prior sale or transfer history field or elsewhere in the report that the price of the sale or transfer is not available data source and effective date of data sources for prior sales enter the data source and effective date of the data source associated with the prior transfer of each property if you cite your County records as a data source you can say county records if you cite your MLS as a data source however you must use the MLS formula for instance if I were to cite the Oklahoma City metropolitan Association of Realtors MLS listing number I would represent that as OKC MA our pound and in the number this will be the new formula for citing your MLS and all other you ad fields that ask for data source indicated values enter the reconciled value of the sales comparison approach in whole dollars the software will round for you if necessary if you complete the cost approach enter the amount here and again whole numbers only this appraisal is made as is subject to completion you must select either the as is or at least one of the subject to checkboxes if any of the subject two checkboxes are selected you must provide a description my opinion of market value enter the value of the subject property the value of the subject property must match the appraised value of the subject property in the appraiser certification section date of inspection and effective date of appraisal enter the date of the inspection which is also the effective date of the appraisal state certification and license number the appraiser and supervisory appraiser if applicable must enter their license or certification numbers as they appear on the appraisal subcommittee website wwas see gov unless otherwise mandated by state law or regulation if the jurisdiction does not provide license numbers for trainees and a trainee performs the appraisal the term trainee must be entered in the appraiser certification section or other described field if there is no supervisory appraiser leave the field blank do not make an entry such as n/a or none expiration date of certification or license the appraiser and supervisory appraiser if applicable must enter the expiration date of their license or certification numbers if there is no supervisory appraiser leave the field blank do not make any entry such as n/a or none lender client enter the name of the AMC in this field if the appraisal is ordered through an AMC if no AMC was involved in the transaction type in the words no AMC do not ever put the name of the lender into this name field note that the four fields beneath this one are automatically populated from your lender contact record this is perfectly fine since these four fields do not have guidance specifically for appraisers however the gia sees only allow the first 25 characters from the lenders email address to populate the XML when we create it if you go over that 25 character limit the real-time validation engine will warn you