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We offer a high quality low cost short form alternative..." 2055 Limited Residential Appraisal and Summary Report" It has been widely accepted for use where the more lengthy FNMA 1004 Report is not necessary. It can be used for tax grievance (small claims assessment review), uncontested matrimonial, estate or financial planning, gift tax, bail bonds or to establish fair market value for sellers or purchasers. It is available for use on one to four family dwellings, condominium individual units, homeowner association individual units, co-operative apartment individual units and vacant residential land (single lot). The appraiser's description of the physical characteristics of the property will be obtained from reliable data sources and either an interior and exterior inspection or drive-by exterior inspection (when interior access is not possible or desired). Our "short form Residential Appraisal Report" typically consists
of a letter of transmittal; brief neighborhood analysis; brief description of
the site; brief description of the improvements; direct sales comparison
approach utilizing comparable sales on a comparison grid; reconciliation;
definition of market value; certification; contingent & limiting conditions;
exterior photos of the subject property; exterior photos of all comparable sales
used; comparable sales location map and qualifications of the appraiser and
reviewer. The Form 1004, "Uniform Residential Appraisal Report" is the most commonly used
appraisal form. It is designed for single-family and owner occupied two family
(not for lending purposes) homes, including those with auxiliary apartments or
"in-law, mother/daughter" units. It is extensively used by lenders and
other investors for purchases and refinancing purposes. It is also used for
formal certiorari tax appeals, condemnation, contested matrimonial or any
situation involving a single family dwelling or owner occupied two family
dwelling in which court testimony is contemplated. The appraiser's description of the physical characteristics of the property
and comparables will be obtained from reliable data sources. The appraiser will
view both the interior and exterior of the property. The appraiser will take
about half an hour to one hour at the site, depending on the size of the house. A "Uniform Residential Appraisal Report" typically consists of a
letter of transmittal; neighborhood analysis; description of the site;
description of the improvements; cost approach; direct sales comparison approach
utilizing comparable sales on the comparison grid; reconciliation; definition of
market value; certification; contingent & limiting conditions; firrea
addendum; interior and exterior photos of the subject property; exterior photos
of all comparable sales used; comparable sales location map; sketch of subject
property showing room layout; flood map if in print and qualifications of the
appraiser and reviewer. The Form 1073, "Individual Condominium Unit Appraisal Report" is designed for condominium or homeowner association individual units. It is extensively used by lenders and other investors for purchases and refinancing purposes. It is also used for formal certiorari tax appeals, contested matrimonial or any situation involving an individual condominium or homeowner association unit in which court testimony is contemplated. The appraiser's description of the physical characteristics of the property and comparables will be obtained from reliable data sources. The appraiser will view both the interior and exterior of the property. It will take about half an hour to one hour, depending on the size of the project and of the unit. An "Individual Condominium Unit Appraisal Report" typically
consists of a letter of transmittal; neighborhood analysis; description of the
site; description of the improvements; cost approach; direct sales comparison
approach utilizing comparable sales on the comparison grid; reconciliation;
definition of market value; certification; contingent & limiting conditions;
firrea addendum; interior and exterior photos of the subject property; exterior
photos of all comparable sales used; comparable sales location map; sketch of
subject property showing room layout; flood map if in print and qualifications
of the appraiser and reviewer. The Form 1055, "Individual Co-operative Apartment Unit Appraisal Report" is designed for co-operative apartment individual units. It is extensively used by lenders and other investors for purchases and refinancing purposes. It is also used for contested matrimonial or any situation involving an individual co-operative apartment unit in which court testimony is contemplated. The appraiser's description of the physical characteristics of the property and comparables will be obtained from reliable data sources. The appraiser will view both the interior and exterior of the property. It will take about half an hour to one hour, depending on the size of the project and of the unit. An "Individual Co-operative Apartment Unit Appraisal Report"
typically consists of a letter of transmittal; neighborhood analysis;
description of the site; description of the improvements; cost approach; direct
sales comparison approach with comparable sales on the comparison grid;
reconciliation; definition of market value; certification; contingent &
limiting conditions; co-operative apartment addendum; firrea addendum, interior
and exterior photos of the subject property; exterior photos of all comparable
sales used; comparable sales location map; sketch of subject property showing
room layout; flood map if in print and qualifications of the appraiser and
reviewer. The Form 1025, "Small Residential Income Property Appraisal Report"
is designed for two to four family income properties. It is extensively used by
lenders and other investors for purchases and refinancing purposes. It is also
used for formal certiorari tax appeals, condemnation, contested matrimonial or
any situation involving a two to four family income property in which court
testimony is contemplated. The appraiser's description of the physical characteristics of the property
and comparables will be obtained from reliable data sources. The appraiser will
view both the interior and exterior of the property. It will take
about half an hour to one hour, depending on the size of the dwelling. A "Small Residential Income Property Appraisal Report" typically
consists of a letter of transmittal; neighborhood analysis; description of the
site; description of the improvements; rental income analysis; cost approach;
income approach; direct sales comparison approach with comparable sales;
reconciliation; operating income statement, definition of market value;
certification; contingent & limiting conditions; firrea addendum; interior
and exterior photos of the subject property; exterior photos of all comparable
sales used; comparable sales location map; sketch of subject property showing
room layout; flood map if in print and qualifications of the appraiser and
reviewer. We offer a low cost short form "Limited Commercial/Industrial/land Appraisal and Summary Report". It has been widely accepted for use where a more lengthy narrative report is not necessary. It can be used for uncontested matrimonial, estate or financial planning, gift tax, bail bonds, partnership/corporate buyout or to establish fair market value for sellers or purchasers. It is available for use on small non-complex commercial & industrial properties or vacant land (except subdivision). The appraiser's description of the physical characteristics of the property will be obtained from reliable data sources and either. The appraiser will view both the interior and exterior of the property or drive-by exterior inspection (when interior access is not possible or desired). The inspections take about half an hour to one hour, depending on the size of the building. Our "short form Commercial/Industrial Appraisal Report" typically
consists of a letter of transmittal; brief neighborhood analysis; brief
description of the site; brief description of the improvements; direct sales
comparison approach; reconciliation; definition of market value; certification;
contingent & limiting conditions; exterior photos of the subject property;
exterior photos of all comparable sales used; comparable sales location map and
qualifications of the appraiser and reviewer. Our "Brief Narrative Appraisal Report" is designed for any type of
commercial or Industrial property or vacant land (except sub-division) It is
used for formal certiorari tax appeals, condemnation, contested matrimonial or
any situation involving small non-complex commercial property, industrial
property or vacant land in which court testimony is contemplated. The appraiser's description of the physical characteristics of the property
and comparables will be obtained from reliable data sources. The appraiser will
view both the interior and exterior of the property. It will
generally take from one hour to two hours, depending on the size and complexity
of the building. Our "Brief Narrative Appraisal Report" is a "summary"
report which typically consists of a letter of transmittal; summary of important
conclusions, regional analysis, neighborhood analysis; description of the site;
description of the improvements; highest and best use analysis; zoning analysis;
tax analysis; statement of ownership; property rights appraised; scope of the
appraisal; cost approach; income approach; direct sales comparison approach
utilizing comparable sales on the comparison grid; reconciliation; description
of the appraisal process, definition of market value; certification; contingent
& limiting conditions; firrea addendum; interior and exterior photos of the
subject property; exterior photos of all comparable sales used; comparable sales
location map; sketch of subject property showing layout; flood map if in print
and qualifications of the appraiser and reviewer. Our "Full Narrative Appraisal Report" is designed for any type of
commercial or Industrial property or vacant land including sub-division. It is
extensively used by lenders and other investors for purchases and refinancing
purposes. It is also used for formal certiorari tax appeals, condemnation,
contested matrimonial or any situation involving complex commercial property,
industrial property or vacant land in which court testimony is contemplated. The appraiser's description of the physical characteristics of the property
and comparables will be obtained from reliable data sources. The appraiser will
view both the interior and exterior of the property. It will
generally take from one hour to six hours, depending on the size and complexity
of the building. A "Full Narrative Appraisal Report" is a "self contained" in depth report which typically consists of a letter of transmittal; summary of important conclusions, regional analysis, neighborhood analysis; description of the site; description of the improvements; highest and best use analysis; zoning analysis; tax analysis; statement of ownership; property rights appraised; scope of the appraisal; cost approach; income approach; direct sales comparison approach utilizing comparable sales on the comparison grid; reconciliation; description of the appraisal process, definition of market value; certification; contingent & limiting conditions; firrea addendum; interior and exterior photos of the subject property; exterior photos of all comparable sales used; comparable sales location map; sketch of subject property showing layout; flood map if in print and qualifications of the appraiser and reviewer.
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