Types of Real Estate Appraisals
Integration 4.0 Inc.is an AMC and its goal is to deliver quality, accurate, and compliant residential and commercial real estate appraisals that represents true market value to the financial lending industry. Our appraisal management company (AMC) is committed to providing superior service tailored to each client's individual real estate appraisal needs.
Our network of Licensed Appraisers servicing the Southeast United States region are experts in both estimating market values and reporting their value conclusions using the appropriate forms or narrative formats so you receive the most accurate data.
Home Appraisals
1004 URAR Single Family
The most often used appraisal report for a single-family residential property, this report covers an appraisal of a one-unit property or a one-unit property with an accessory unit, including a unit in
a planned unit development (PUD). The report is based on an interior and exterior inspection of the subject property and includes:
- Neighborhood and current market data
- Text addenda, as needed
- Statement of Limiting Conditions/Appraiser's Certification
- Photos of the subject and comparable properties
- Location map
- Building sketch
- Miscellaneous addenda, exhibits and proprietary forms, per your requirements
1004MC
Market Conditions Addendum included with report.
1004C
Manufactured home (any dwelling built on a permanent chassis and attached to a permanent foundation) A.K.A. Mobile Home.
1004D Final Inspection
The 1004 appraisal report is used to provide the client with certification of completion or accurate update of a prior appraisal. The appraiser will complete the report by concurring with the original
appraisal, perform an exterior inspection of the subject property, and identify current market trends in order to determine if the property has lost value since the effective date of the appraisal.
FHA 1004
Uniform Residential Appraisal Report. Two to Four pages including floor plan with exterior dimensions photographs of the subject and comparable properties, location and flood maps and any assumption and
limiting condition addenda. Requires licensed or certified appraiser to inspect the property and gather the information for the report.
1025 Multi-Family
1025 Multi-Family appraisal report is designed for a two-four unit income property, and it includes a two-to-four unit property in a planned unit development (PUD) The appraiser is required to
inspect if the project is a condominium or cooperative building and complete the project information section of the individual condominium unit appraisal or cooperative interest appraisal report.
Field Review 2000
A spot-check appraisal report to enable an appraiser to address the accuracy of the data in the appraisal report being reviewed and to develop an opinion on the appropriateness of the appraisal methods
and techniques that the original appraiser used.
Fannie Mae Form 2000A
One-Unit Residential Appraisal Field Review Report. Also known as Freddie Mac Form 1032. This form can be used to report the findings of a field review of an appraisal.
2055 Exterior Drive by
This report is used to estimate the market value of a one-unit, single-family residential property. It is based on an exterior inspection from the street; therefore, certain extraordinary assumptions about
the property's interior and site attributes are made. The Sales Comparison Approach is developed and the appraiser may also consider the Income Approach to value and the Cost Approach if either is deemed
necessary to produce credible results.
Desk Review
An exterior-only property inspections report of the subject property from the street by a licensed or certified appraiser without an estimate of market value for the property.
Land Form Appraisal
Used for valuing vacant land and land-only appraisals that exclude structure values. The report provides a location map, photographs, three comparable sales and detailed description of
the site, including history, tax information, zoning, utilities and surrounding neighborhood. Also includes Statement of Limiting Conditions, Appraiser's Certification and addenda, as needed.
1073 Condo
This form provides an appraisal report based on an interior and exterior inspection of a unit in a condominium project or a condominium unit in a planned unit development (PUD). This report form does not cover
an appraisal of a manufactured home or a unit in a cooperative project.
Desktop Appraisals
These are becoming more and more popular as the infamous "comp check" becomes a thing of the past. The desktop appraisal is an actual appraisal performed by a licensed or certified appraiser that researches
the subject's tax records, MLS, and other online information, then finds comparable sales and actually prepares a report.
Plans/Specs/Construction
Used for new construction to review plans and specifications to determine estimated market value:
- Provides general description of subject's exterior, foundation, basement and insulation
- Calculates room count and actual square footage for GLA
- Notes condition of improvements, depreciation, repairs needed and quality of construction
- Provides sales comparison analysis grid with indicated value by sales comparison approach
ERC Appraisal Form
This form is used for relocation appraisals and was created by the Worldwide ERC. This form is used to report the appraiser's estimate of the anticipated selling price of a property. If you are
being transferred by an employer and they have a relocation program then this is the type of report they would order. This form was updated in 2010 with most client's requiring its use
effective for any appraisals completed starting in 2011.
Commercial Appraisals
Commercial Summary Narrative Report
A Commercial Summary Narrative report adequately describes the geographic area, the market, the subject property, the highest and best use, and analyzes the value through the three approaches to value, the
Sales Comparison Approach, the Income Approach and the Cost Approach. This type of report is typically useful to lenders, courts, government agencies and individuals and organizations that need this
level of reporting.
Self-Contained Narrative Report
The self-contained appraisal report contains the highest level of detail of the narrative formats, going into greater descriptive detail than either the restricted-use or summary formats.