Property Description

RESIDENTIAL APPRAISAL REPORT

File No.
Subject
Property Address
City
State
Zip Code
Legal Description
County
Assessor's Parcel No.
Tax Year
R.E. Taxes $
Special Assessments $
Borrower
Current Owner
Occupant:    
Property rights appraised    
Project Type    
HOA $ /Mo.
Neighborhood or Project Name
Map Reference
Census Tract
Sale Price $
Date of Sale
Description and $ amount of loan charges/concessions to be paid by seller
Lender/Client
Address
Appraiser
Address
Neighborhood Location
Predominant occupancy Single family housing Present land use % Land use change
Built up
PRICE $(000) AGE (yrs)
One family
Growth rate
Low
2-4 family
Property values
High
Multi-family
To:
Demand/supply
Predominant
Commercial
Marketing time
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood boundaries and characteristics:
Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, and marketing time -- such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.):
PUD Project Information for PUDs (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)?    
Approximate total number of units in the subject project
Approximate total number of units for sale in the subject project
Describe common elements and recreational facilities:
Site
Dimensions
Topography
Site area
Corner Lot    
Size
Specific zoning classification and description
Shape
Zoning compliance    
Drainage
Highest & best use as improved:
View
Utilities Public Other Off-site Improvements Type Public Private Landscaping
Electricity
Street
Driveway Surface
Gas
Curb/gutter
Apparent easements
Water
Sidewalk
FEMA Special Flood Hazard Area    
Sanitary sewer
Street lights
FEMA Zone
Map Date
Storm sewer
Alley
FEMA Map No.
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc.):
Description of Improvements GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No. of Units Foundation Slab Area Sq. Ft. Roof
No. of Stories Exterior Walls Crawl Space % Finished Ceiling
Type (Det./Att.) Roof Surface Basement Ceiling Walls
Design (Style) Gutters & Dwnspts. Sump Pump Walls Floor
Existing/Proposed Window Type Dampness Floor None
Age (Yrs.) Storm/Screens Settlement Outside Entry Unknown
Effective Age (Yrs.) Manufactured House Infestation
ROOMS Foyer Living Dining Kitchen Den Family Rm. Rec. Rm. Bedrooms # Baths Laundry Other Area Sq. Ft.
Basement
Level 1
Level 2
Finished area above grade contains: Rooms; Bedroom(s); Bath(s); Square Feet of Gross Living Area
INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE:
Floors Type Refrigerator
None
Fireplace(s) #
None
Walls Fuel Range/Oven
Stairs
Patio
Garage # of cars
Trim/Finish Condition Disposal
Drop Stair
Deck
Attached
Bath Floor COOLING Dishwasher
Scuttle
Porch
Detached
Bath Wainscot Central Fan/Hood
Floor
Fence
Built-In
Doors Other Microwave
Heated
Pool
Carport
Condition Washer/Dryer
Finished
Driveway
Comments Additional features (special energy efficient items, etc.):
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction, remodeling/additions, etc.:
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the immediate vicinity of the subject property.
Valuation Section

RESIDENTIAL APPRAISAL REPORT

File No.
Cost Approach ESTIMATED SITE VALUE
= $
Comments on Cost Approach (such as, source of cost estimate, site value, square foot calculation and for HUD, VA and FmHA, the estimated remaining economic life of the property):
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS:
Dwelling Sq. Ft.
@ $
= $
Sq. Ft.
@ $
= $
=
Garage/Carport Sq. Ft.
@ $
= $
Total Estimated Cost New
= $
Less Physical Functional External
Depreciation
= $
Depreciated Value of Improvements
= $
"As-is" Value of Site Improvements
= $
INDICATED VALUE BY COST APPROACH
= $
Sales Comparison Analysis ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3
Address
Proximity to Subject
Sales Price
$
$
$
$
Price/Gross Living Area
$
$
$
$
Data and/or Verification Source
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +( – )$ Adjust. DESCRIPTION +( – )$ Adjust. DESCRIPTION +( – )$ Adjust.
Sales or Financing Concessions
Date of Sale/Time
Location
Leasehold/Fee Simple
Site
View
Design and Appeal
Quality of Construction
Age
Condition
Above Grade Room Count Gross Living Area Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths
Sq. Ft.
Sq. Ft.
Sq. Ft.
Sq. Ft.
Basement & Finished Rooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porch, Patio, Deck,
Net Adj. (total)
$
$
$
Adjusted Sales Price of Comparable
$
$
$
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.):
ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3
Date, Price and Data Source, for prior sales within year of appraisal
Analysis of any current agreement of sale, option, or listing of subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal:
INDICATED VALUE BY SALES COMPARISON APPROACH
$
(if Applicable)       Estimated Market Rent       $ /Mo.       x       Gross Rent Multiplier = INDICATED VALUE BY INCOME APPROACH
$
Reconciliation This appraisal is made    
Conditions of Appraisal:
Final Reconciliation:
The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report, based on the above conditions and the certification, contingent and limiting conditions, and market value definition.
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF
(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE
$
APPRAISER: SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Signature
Signature
Name
Name
Date Report Signed
Date Report Signed
State Certification #
State
State Certification #
State
Or State License #
State
Or State License #
State