Reports Offered to Lenders
- The standard Fannie Mae summary appraisal report.
- Considers market value trends, supply and demand, and marketing times.
- Provides indicated value by cost approach, where appropriate.
- Provides a sales comparison analysis grid with indicated value by sales comparison approach.
- Quantitative adjustments to comparable sales Estimates a specific market value.
- Summary appraisal report documentation, but includes extensive property information.
- Provides quantitative adjustments to comparable sales Estimates a specific value.
- Increases efficiency and reduces costs.
- Considers market value trends, supply and demand, and marketing times.
- Room count and actual square footage by GLA.
- Notes condition of improvements, depreciation, repairs needed, and quality of construction.
- Project and phase information includes number of units, number of units for sale, and number of units currently rented, which allows assessment for any location risk within the complex.
- Small residential income property appraisal report for two- to four-family residences.
- Provides neighborhood, site, and improvement descriptions.
- Provides general description of subject’s physical structure.
- Notes condition of improvements, depreciation, repairs needed and quality of construction.
- Includes an analysis of market rents, with rental comparables Sales comparison, income approach, and cost approaches are all considered in estimating market value.
- Includes rental comparables in familiar grid format.
- Reports estimated market rent.
- Reports income and expense projections for the next 12 months.
- Helps estimate necessary cash reserves.
- A review of an appraisal provided by a lender, to determine if the opinion of value in the appraisal is reasonable.
- The subject property and comparables are not inspected.
- The reviewer verifies lot size, GLA, sales price, and date of sale for the subject property and the comparables.
- Same as the Standard Desk Review, with up to 3 additional sales comparables included.
- A location map of the subject property and additional comparables is also included.
- A review of an appraisal provided by a lender, to determine if the opinion of value in the appraisal is reasonable.
- The subject property and comparables receive an exterior inspection from the street.
- Photographs of the subject’s front and street, as well as the sales comparable’s front are included.
- The reviewer verifies lot size, GLA, sales price, and date of sale for the subject property and the comparables.
- Same as a Field Review, with up to 3 additional comparables provided.
- A location map of the subject property and additional comparables is also included.
- A review of an appraisal provided by a lender, to determine if the opinion of value in the appraisal is reasonable.
- The subject property receives an interior inspection and comparables receive an exterior inspection from the street.
- Photographs of the subject’s front, street and interior, as well as the sales comparables’ fronts are included.
- The reviewer verifies lot size, GLA, sales price, and date of sale for the subject property and the comparables.
- Update to a previous appraisal that was prepared subject to completion of repairs or incomplete items.
- Notes items completed or still need to be completed since time of original appraisal.
- Same appraiser performs reinspection who completed original appraisal report.
- Allows lender to ascertain the current construction status of subject property without incurring the cost of another appraisal.