Uniform Residential Appraisal Report (URAR) FNMA 1004

  • The most comprehensive collateral assessment product offered by Lake Capital Group Appraisals
  • Estimates and accurate market value
  • provides indicated value by cost approach
  • Detailed comparable grid which includes fence, pool, porch, patio, deck, garage/carport, heating and cooling, and functional utility.
  • Quantitative adjustments to comparable sales
  • Provides a sales comparison analysis grid with indicated value by sales comparison approach.

FHA Appriasal

  • FHA appraisal provided in a uniform format for reporting neighborhood, site and improvement descriptions.
  • URAR, Multifamily or Duplex may apply
  • Included in report a HUD/FHA Valuation Condition Sheet and HUD/FHA Home Buyers Summary listing detailed condition of property and required improvements prior to loan closing.
  • Considers market value trends, supply and demand, marketing times
  • Provides a sales comparison analysis grid with indicated value by sales comparison approach
  • Quantitative adjustments to comparable sales
  • Estimates a specific market value

Exterior Only Inspection FNMA 2055

  • Summary appraisal report documentation including extensive property information
  • Provides quantitative adjustments to comparable sales
  • Estimates a specific value
  • Details a comparable grid including all important components for adjustment

Condo Appraisal FNMA 1073

  • Considers market value trends, supply and demand and marketing times
  • Room count and actual square footage by GLA
  • Notes condition of improvements, depreciation, repairs needed and quality of construction
  • Project and phase information includes number of units, units for sale and number of units currently rented which allows assessment for any location risk within the complex

Exterior Condo Appraisal FNMA 1075

  • Considers market value trends, supply and demand, and marketing time
  • Room count and actual square footage for GLA
  • Notes condition of improvements, depreciation, repairs needed and quality of construction
  • Project and phase information includes number of units, number of units for sale and number of units currently being rented which allows assessment for any location risk within the complex

Field Review Report FNMA 2000

  • Used to determine the completeness and accuracy of the data in an appraisal report
  • Verifies accuracy of market value as of the effective date of the original report
  • Includes comprehensive analysis to determine the completeness and accuracy of all appraisal components
  • Provides additional comparable sales if the sales utilized in the original report were not comparable to subject
  • Provides a market supported estimate of value, if the original value was considered not reasonable
  • Includes a signed Appraisers Certification
  • Small residential income property appraisal report for two to four family residences
  • Provides neighborhood, site and improvement descriptions
  • Provides general description of subject's exterior, foundation, basement and insulation
  • Notes condition of improvements, depreciation, repairs, needed and quality of construction

Multifamily Field Review Report FNMA 2000A

  • Used to determine the completeness and accuracy of the data in an appraisal report of Small Residential Income Property (1025)
  • Verifies accuracy of market value as of the effective date of the original report
  • Includes comprehensive analysis to determine the completeness and accuracy of all appraisal components
  • Provides additional comparable sales if the sales utilized in the original report were not comparable to subject
  • Provides a market supported estimated value, if the original was not considered reasonable
  • Includes a signed Appraisers's Certification

Appraisal Update and/or Completion Report 1004D

  • Update to a previous appraisal that was prepared subject to completion of repairs of incomplete items
  • Notes items completed or still in need to be completed since the time of original appraisal
  • Same appraiser performs reinspection

Condition and Marketability Report FHLMS 2070

  • Summary appraisal report that conforms to USPAP requirements
  • Reports general condition of the subject property and marketability factors
  • Reports current market conditions of the neighborhood
  • Option for upgrade path as adverse factors are observed
  • No estimate of market value

Supplemental REO Appraisal Addendum

  • Supplemental REO addendum included with standard URAR 1004 Form
  • Provides general description of subject's exterior, foundation, basement and insulation
  • Notes condition or improvements, depreciation (physical function and external), repairs needed and quality of construction
  • Identifies competing listings and market trends
  • Provides "as is" and "as repaired" values for normal marketing times
  • Provides "as is" and "as repaired" values given client-imposed marketing times

Manufactured Home Appraisal Report FNMA 1004C

  • New appraisal form that replaces prior addendum appended to 1004 or 1073
  • Complete analysis that includes Cost Approach and Sales Comparison Approach
  • Specific HUD cod identification

Co-op Appraisal FNMA 2090

  • Provides blanket mortgage information; which is in effect of the cooperative project as a whole to determine potential risks for the loan
  • Considers market value trends, supply and demand and marketing time
  • Room count and actual square footage by GLA
  • Notes condition of improvements, depreciation, repairs needed and quality of construction
  • Project and phase information includes number of units, number of units for sale and number of units currently rented which allows assessment for any location risk within the complex

Exterior Co-op Appraisal FNMA 2095

  • Provides blanket mortgage information; which is in effect for the co-operative project as a whole to determine potential risks for the local
  • Considers market value trends, supply and demand and marketing time
  • Room count and actual square footage by GLA
  • Notes condition of improvements, depreciation, repairs needed and quality of construction
  • Project and phase information includes number of units, number of units for sale and number of units currently rented which allows assessment for any location risk within the complex

Land Only Appraisal

  • Estimates the market value of unimproved sales suitable for residential development
  • Includes a signed Appraiser's Certification

Plans/Specs Appraisal

  • Used for new construction to review plans and specifications to determine estimated market value
  • Provides general description of subject's exterior, foundations, 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