Appraisal Products:  New Construction

Plans/Specs Appraisal

• Utilized 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
 

Uniform Residential Appraisal Report (URAR) FNMA 1004

• Most comprehensive collateral assessment product offered
• Market value trends, supply and demand and marketing times are all considered
• Indicated value by cost approach provided
• Sales comparison analysis grid with indicated value by sales comparison approach provided
• Detailed comparable grid includes fence, pool, porch, patio, deck, garage/carport, heating/cooling and functional utility
• Quantitative adjustments to comparable sales
• Estimate for a specific market value included
 

Appraisal Update and/or Completion Report FNMA 1004D

• Update to a previous appraisal that was prepared subject to completion of repairs or incomplete items
• Items completed or to be completed since time of original appraisal noted
• Same appraiser performs re-inspection who completed original appraisal report
• Lender can ascertain the current construction status of subject property without incurring the cost of another appraisal