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We explain each and every box, line, subsection and section
of the URAR (1004) form
and 2-4 form (1025). You can adopt sample comments, suggested
language, Uniform Residential Appraisal Report checklists and
templates.
- We explain items in the 2-4 Unit form which are unique to the appraisal of 2-4 Unit property or the form itself.
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We provide details on all the new Fannie Mae changes, intentions
and expectations for the new URAR 1004 and new 2005 Forms: Contract Analysis,
Subject and Comparable Transfer History, Effective Date of the
Data, Unacceptable Property Flipping Awareness, Non-arms Length
Transaction, Yes/No Format, PUD and much more.
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Use our model URAR and
2-4 Unit appraisals and
addendum for your own appraisals.
It contains required USPAP inclusions.
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Use sample neighborhood comments.
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Add a fill-in-the blank, data specific, “market conditions”
comment for Neighborhood Analysis.
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Use templates and standardized lists for all the lines in the
“Improvements” and “Sales Comparison Analysis”
sections.
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Use a field-tested 5-step procedure for selecting the best comparables
for the Sales Comparison Section. You will have clear direction
for the most difficult or complex appraisal. You will avoid
unwise or poor choices. (Found in the Practice Supplement)
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Consult line-by-line language on how to best document every
line on the grid to eliminate many questions and requests for
changes and addenda from the review appraiser and loan underwriter.
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Learn how to use photographs to minimize real estate review
appraiser and loan underwriter questions.
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Know distance requirements for reporting adverse environmental
conditions. (Found in the Practice Supplement)
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Be aware of common and specific phrases found in reports that
create unintentional report bias.
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Complete the forms so the content is USPAP compliant.
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Add additional certifications to the “Appraiser’s
Certification” in order to comply with USPAP S.R. 2-3.
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Implement the quality tips.
Many of these tips are practical and are appraisal practice
requirements often lacking in appraisals.
- Solve appraisal problems with 40+Sales Comparison Section (SCA) adjustment options. (Found in the Adjustments Manual)
- Manuals are fully indexed. Find the topic you need easily.
