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Appraisal.com Nationwide Appraisal Network: Appraisal Requirements

As a condition of payment and continued participation, certain requirements must be met by all appraisers on each report produced for the Appraisal.com Nationwide Appraisal Network. If you have any questions about these requirements, please contact the Appraisal.com Appraisal Quality and Review Department at 716.332.5950 x525 or email


 
 

Full Residential Appraisals with Interior Inspection:

Uniform Residential Appraisal Report (FNMA 1004 / FHLMC 70)
Comprehensive appraisal of a single-family home, using Fannie Mae Form 1004. Interior inspection required.
Read the requirements for the Uniform Residential Appraisal Report (FNMA 1004 / FHLMC 70) by clicking here

FHA - Uniform Residential Appraisal Report (FNMA 1004)
Comprehensive appraisal of a single-family home, using Fannie Mae Form 1004 and required FHA documentation, by an FHA-certified appraiser. Interior inspection required.
Read the requirements for the FHA - Uniform Residential Appraisal Report (FNMA 1004) by clicking here

Condition and Marketability Report - Interior Inspection (FHLMC 2070)
Condition and Marketability Report, using Freddie Mac Form 2070. Interior inspection required.
Read the requirements for the Condition and Marketability Report - Interior Inspection (FHLMC 2070) by clicking here

Individual Condominium Unit Appraisal Report (FNMA 1073 / FHLMC 465)
Comprehensive appraisal of a condominium unit, using Fannie Mae Form 1073. Interior inspection required.
Read the requirements for the Individual Condominium Unit Appraisal Report (FNMA 1073 / FHLMC 465) by clicking here

Individual Cooperative Interest Appraisal Report (FNMA 2090)
Comprehensive appraisal of a cooperative unit, including an interior inspection by the appraiser.
Read the requirements for the Individual Cooperative Interest Appraisal Report - Interior Inspection (FNMA 2095) by clicking here

Drive-By Residential Appraisal with no Interior Inspection:

Quantitative Analysis Appraisal Report - Drive-By (FNMA 2055 / FHLMC 2055)
Limited scope appraisal of a single-family home (including units in condominium or PUD projects). Drive-by only, no interior inspection.
Read the requirements for the Quantitative Analysis Appraisal Report - Drive-By (FNMA 2055 / FHLMC 2055) by clicking here

Condition and Marketability Report - Drive-By (FHLMC 2070)
Condition and Marketability Report, using Freddie Mac Form 2070. Interior inspection required.
Read the requirements for the Condition and Marketability Report - Interior Inspection (FHLMC 2070) by clicking here

Property Inspection Report (FNMA 2075)  
"Drive-by" Property Inspection Report, using Fannie Mae Form 2075. No interior inspection.
Read the requirements for the Property Inspection Report (FNMA 2075) by clicking here

Exterior-Only Inspection Individual Condominium Unit Appraisal Report (FNMA 1075 / FHLMC 466)
"Drive-by" appraisal of a condominium unit, using Fannie Mae Form 1073, with no interior inspection by the appraiser. 
Read the requirements for the Exterior-Only Inspection Individual Condominium Unit Appraisal Report (FNMA 1075) by clicking here

Exterior-Only Inspection Individual Cooperative Interest Appraisal Report (FNMA 2095)
Comprehensive appraisal of a cooperative unit. Drive-by only, no interior inspection.
Read the requirements for the Individual Cooperative Interest Appraisal Report - Drive-By (FNMA 2095) by clicking here

Automated Valuation Reports (AVMs)

What is a Property Analysis Report?
We have compiled a listing of all public information available regarding the subject property and compared it to a list of recent home sales in the neighborhood. The report includes address verification, census tract information, property owner and mailing address, physical description of subject property (i.e. beds, baths, sq ft, etc), history of recent sales of the subject property as well as relevant comparable sales in the neighborhood.

What is a Comparative Check Report?
By comparing the subject property to a list of recent home sales and active listings in the neighborhood, a real estate agent advises a client on what the listing price of a home should be. This process is known as a comparative market analysis. Appraisal.com's Comparables Check reports are generated within a matter of minutes. The report includes address verification, census tract information, property owner and mailing address, physical description of subject property (i.e. beds, baths, sq ft, etc), history of recent sales of the subject property as well as relevant comparable sales with distances from Subject Property and a street map showing subject property and comparables. Also includes a flood map.

What is an Automated Valuation Report?  
An automated valuation report is a property value estimate derived by computer software using a statistical analysis of sales and/or other data in a specific market demographic. Automated Valuation Reports including address verification, census tract information, property owner and mailing address, physical description of subject property (i.e. beds, baths, sq ft, etc), history of recent sales of the subject property as well as relevant comparable sales with distances from Subject Property and a street map showing subject property and comparables. Also includes a flood map, plat map (where available), estimated value with confidence score, neighborhood range of values and flipping risk indicator

Commercial Appraisal Reports:

Commercial Appraisal Report
A narrative appraisal of a commercial property preformed by a licensed, commercial appraiser.  Read the requirements for Commercial Appraisal Report.

Appraisals of Manufactured Homes:

Manufactured Home Appraisal - Uniform Residential Appraisal Report (FNMA 1004C / FHLMC 70B)
Comprehensive appraisal of a manufactured home, including an interior inspection by an appraiser. Includes Manufactured Home Appraisal Report Addendum (FNMA 1004C).  Interior inspection required.

Read the requirements for the Manufactured Home Appraisal - Uniform Residential Appraisal Report (FNMA 1004) by clicking here

Full Residential Appraisals for Income Properties:

Investment Property - Uniform Residential Appraisal Report (FNMA 1004 / FHLMC 70)
Comprehensive appraisal of a single-family home, using Fannie Mae Form 1004.  Includes the Single-Family Comparable Rent Schedule (FNMA 1007 / FHLMC 1000) and Operating Income Statement (FNMA 216 / FHLMC 998) addenda. Interior inspection required.
Read the requirements for the Investment Property - Uniform Residential Appraisal Report (FNMA 1004 / FHLMC 70) by clicking here

Small Residential Income Property Report (FNMA 1025 / FHLMC 72)
Comprehensive appraisal of a two, three, or four-family home, using Fannie Mae Form 1025.  Interior inspection required.
Read the requirements for the Small Residential Income Property Report (FNMA 1025 / FHLMC 72) by clicking here

Land Appraisal
Comprehensive appraisal of a vacant parcel, including a site inspection by the appraiser.
Read the requirements for the Land Appraisal by clicking here

Appraisal Reviews:

One-Unit Residential Appraisal Field Review Report (FNMA 2000 / FHLMC 1032)
A field review of an existing appraisal report by a licensed appraiser.
Read the requirements for the Residential Appraisal Field Review Report (FNMA 2000 / FHLMC 1032) by clicking here

Two- to Four-Unit Residential Appraisal Field Review Report (FNMA 2000A / FHLMC 1072)
A field review of an existing appraisal report by a licensed appraiser.
Read the requirements for the Residential Appraisal Field Review Report (FNMA 2000 / FHLMC 1032) by clicking here

Residential Appraisal Review Form - Desk Review (2002)
A desktop review of an existing appraisal report by a licensed appraiser.
Read the requirements for the Residential Appraisal Review Form - Desk Review (2002) by clicking here.

Residential Appraisal Review Form - Enhanced Desk Review (2002)
A desktop review of an existing appraisal report by a licensed appraiser, with two adjusted comparable sales added by the reviewer.
Read the requirements for the Residential Appraisal Review Form - Enhanced Desk Review (2002) by clicking here.

Residential Appraisal Review Short Form (2006)
A desktop review of an existing appraisal report by a licensed appraiser, using the Residential Appraisal Review Short Form (2006)
Read the requirements for the Residential Appraisal Review Short Form (2006) by clicking here.

FHA Appraisal Field Review Report (1038)
A field review of an existing FHA appraisal report using Form 1038, preformed by an FHA-certified appraiser.

Narrative Commercial Appraisal Review Report
A review of a completed commercial appraisal by licensed commercial appraiser in a narrative format.

Re-Inspections and Additional Addenda:

Appraisal Update and/or Completion Report (1004D)
A report by a licensed appraiser that consists of an update of an existing appraisal and/or reports a certification of completion.
Read the requirements for the Appraisal Update and/or Completion Report (1004D) by clicking here.

Out of Circulation Forms:

Quantitative Analysis Appraisal Report - Interior Inspection (FNMA 2055 / FHLMC 2055)
Limited scope appraisal of a single-family home (including units in condominium or PUD projects) Interior inspection required.
Read the requirements for the Quantitative Analysis Appraisal Report - Interior Inspection (FNMA 2055 / FHLMC 2055) by clicking here

Qualitative Analysis Appraisal Report - Interior Inspection (FNMA 2065)
Limited scope appraisal of a single-family home, PUD unit, or Condominium unit, using Fannie Mae Form 2065. Interior inspection required.
Read the requirements for the Qualitative Analysis Appraisal Report - Interior Inspection (FNMA 2065) by clicking here

Qualitative Analysis Appraisal Report - Drive-By (FNMA 2065)
Limited scope "drive-by" appraisal of a single-family home, PUD unit, or Condominium unit, using Fannie Mae Form 2065. No interior inspection required.
Read the requirements for the Qualitative Analysis Appraisal Report - Drive-By (FNMA 2065) by clicking here

704 Drive-by Appraisal
Limited scope "drive-by" appraisal of a one-family home, using Freddie Mac Form 704. No interior inspection required. Normally used for a second mortgage or home equity loan.
Read the requirements for the 704 Drive-by by clicking here

 

 

 
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Last Updated: 06/06/2007

 

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