Products and Services

Each completed appraisal report contains standard report formats, text addenda as required, photos of the subject property, location maps, and may include comparable properties, building sketches, and additional supplements (plat map, comparable location map, trends, market demographics, environmental hazard declarations & miscellaneous).

  • Broker Price Opinion Report (BPO)
    The report can be provided on a variety of forms, and can be customized based on the reporting needs of the client. This format is utilized to convey a combination of appraisal methodology, and broker/realtor experience in the market. This form is primarily used by brokers to provide a sales comparison valuation method, along with including active listings, to derive a value for a single family residential use property. Most commonly used for REOs to assist in determining a current value along with a suggested listing price. This report typically contains exterior inspection (interior inspection can also be completed on this form); three closed sales, three active listings, comments, neighborhood, and market analysis. The sales comparison approach to value is the only approach to value developed by the broker.
  • Uniform Residential Appraisal Report (URAR)
    The report form FNMA1004/FHLMC 70 is typically referred to as a URAR report. This format is utilized to convey a complete appraisal methodology in a summary manner. This form is used by appraisers to report the valuation methods employed to derive a value for a single family residential use property. This report contains comprehensive interior and exterior inspection comments, neighborhood and area analysis, and conditional statements. All three approaches to valuation are developed by the appraiser and recognized by use of this report format.
  • Individual Condominium Unit Appraisal Report
    Report form FNMA 1073/FHLMC 465 is primarily designed for the use of the appraiser to report the valuation of condominiums and planned unit developments (PUDs). This format provides adequate detail of the condominium description, development characteristics and association/common area utility. It provides information which is unique to this type of real property, items may include: unit make-up, associations, occupancy %, maintenance fees, and secondary amenities realized.
  • Small Residential Income Property Appraisal Report
    Report form FNMA 1025/FHLMC 72 with optional FNMA 216/FHLMC 998 Operating Income Statement is generally utilized for the appraisal of small (1-4 unit) residential style income generating property. This format allows the appraiser to convey income factors that are realized as an investment property for the income analysis required.
  • Vacant Land Appraisal Report
    Report form is generally used for the appraisal of residential vacant land parcels. This format allows the appraiser to convey market analysis and the sales comparison approach performed as a part of reviewing site characteristics, supply & demand factors, and market conditions realized as a part of the scope of the assignment.
  • Manufactured Housing Appraisal Report
    Report form is generally used for the appraisal of residential vacant land parcels. This format allows the appraiser to convey market analysis and the sales comparison approach performed as a part of reviewing site characteristics, supply & demand factors, and market conditions realized as a part of the scope of the assignment.

Limited Report Formats

Each completed appraisal report contains standard report formats, text addenda as required, photos of the subject property, location maps, and may include comparable properties, building sketches, and additional supplements (plat map, comparable location map, trends, market demographics, environmental hazard declarations & miscellaneous).

  • Property Value Analysis Report
    Report form FHLMC 704 is utilized to convey a limited appraisal based on (usually) one approach to value – the sales comparison. This report is used by appraisers to report the estimate of value for the subject property based on an interior or exterior inspection. Property value analysis reports were designed to serve the needs of secondary lenders for fast residential analysis.
  • Desktop Underwrite Quantitative Analysis Appraisal Report
    Report form FNMA 2055 was primarily designed to supplement the requirements of Fannie Mae’s desktop underwriter loan approval system. The format presents areas where the appraiser can report immediate market analysis, active listings, and report greater detail in the sales comparison analysis. It has started to become the replacement form for the 704 interior/exterior due to the quality of the data reported and its secondary market recognition.

As has been made evident by this section on product description, there are a variety of report options, which have been incorporated to meet the demands of every lender.

FHA Appraisal Reports


1004 Single Family FHA

  • Fannie Mae Form 1004

    Uniform Residential Appraisal for a FHA Loan: This report is used for appraising single family residences when FHA financing is involved. It includes a detailed interior and exterior FHA Appraisal inspection. The appraiser provides the Cost Approach and Sales Comparison Analysis to determine an opinion of value. The report includes: A complete 1004 appraisal report including a list of required FHA repairs, floor sketch based upon exterior measurements, front, rear, and street scene photos of the subject, front view photos of each comparable, and a location map with the subject and comparables plotted.


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