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Appraisal.com Nationwide Appraisal Network: Appraisal
Requirements
Appraisal Update and/or
Completion Report (1004D)
As a condition of
payment and continued participation, the
following
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
at
support@appraisal.com.
General
(1) The
report must be USPAP compliant, and meet
minimum requirements set forth by Appraisal.com.
(2) The
report must be produced in a manner that is consistent with
all applicable federal, state and local laws.
(3) The report must be submitted on a typed or
computer-generated (not handwritten) document that is a
reasonable facsimile of the current Fannie Mae Form 1004D
(with either "Summary Appraisal Report" or "Certification of
Completion" indicated) and all pertinent fields
must be completed. If the appraiser chooses to omit any
fields, an explanation must be included.
(4) The
report must be delivered to Appraisal.com as an Adobe Acrobat®
PDF document or, if the appraiser is unable to deliver the
document as an Adobe Acrobat PDF document, the report may be
delivered by overnight courier to the Appraisal.com
Nationwide Appraisal Network (620 Main Street, Buffalo, NY
14221). Delivery by courier shall be at the appraiser's sole
expense and will cause the appraiser to incur a fee (see the
Appraisal.com
Terms of Use) for Appraisal.com to scan and upload the document as an
Adobe Acrobat PDF document.
(5)
Unless instructed otherwise within the order details, the
report must name the company who ordered it as the Client for
the report. If requested to do so by Appraisal.com within 30
days of report delivery, the appraiser must change the client
name to reflect the correct name. However, if the name change
request is due to a change of investor, the appraiser may
charge a fee of up to $100 to Appraisal.com.
(6) The
report must contain a final opinion of market value.
(7) The
report must contain the effective date of the appraisal.
(8) The
report must comply with any reasonable requests made within
the special instructions section of the appraisal order.
Appraiser(s)
(1) The
report must be produced by the appraiser (or appraisal firm)
the appraisal assignment was sent to. The appraiser who
produces the report (or the supervisory appraiser, if state
law allows) must hold a current and valid state license and/or
certification.
(2) The
report must contain the appraiser's signature as well as the
date of signature.
(3) The
report must contain the appraiser's State Certification (or
License) number as well as the expiration date of the State
Certification (or License).
(4) If
an apprentice or assistant produces the report, the
supervisory appraiser must also sign the report and date his
or her signature. The supervisory appraiser must indicate
whether or not he or she has inspected the subject property.
Attachments / Addenda
(1) If
requested within the special instruction section of the
appraisal order, the report must include a flood map addendum.
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