Real Estate Services:: Reports and Forms
Fannie Mae "2055" Short Form Report
We offer a high quality low cost short form alternative..." 2055 Limited Residential Appraisal and
Summary Report. Click here to download or view in Adobe .PDF format. A sample of this document is downloadable and/or
viewable using Adobe Reader. Click here for a free Adobe Acrobat Reader. It has been widely accepted for use where the
more lengthy FNMA 1004 Report is not necessary. It can be used for tax grievance (small claims assessment review),
uncontested matrimonial, estate or financial planning, gift tax, bail bonds or to establish fair market value for
sellers or purchasers. It is available for use on one to four family dwellings, condominium individual units, homeowner
association individual units, co-operative apartment individual units and vacant residential land (single lot).
The appraiser's description of the physical characteristics of the property will be obtained from reliable data sources
and either an interior and exterior inspection or drive-by exterior inspection (when interior access is not possible or
desired).
A Our "short form Residential Appraisal Report" typically consists of a letter of transmittal; brief neighborhood
analysis; brief description of the site; brief description of the improvements; direct sales comparison approach utilizing
comparable sales on a comparison grid; reconciliation; definition of market value; certification; contingent & limiting
conditions; exterior photos of the subject property; exterior photos of all comparable sales used; comparable sales
location map and qualifications of the appraiser and reviewer.
Uniform Residential Appraisal Report
The Form 1004, "Uniform Residential Appraisal Report"
Click here to download or view in Adobe .PDF format.
This document is downloadable and/or viewable using Adobe Reader.
Click here for a free Adobe Acrobat Reader. is the
most commonly used appraisal form. It is designed for single-family and owner occupied two family (not for lending purposes)
homes, including those with auxiliary apartments or "in-law, mother/daughter" units. It is extensively used by lenders
and other investors for purchases and refinancing purposes. It is also used for formal certiorari tax appeals, condemnation,
contested matrimonial or any situation involving a single family dwelling or owner occupied two family dwelling in which
court testimony is contemplated.
The appraiser's description of the physical characteristics of the property and comparable's will be
obtained from reliable data sources. There will be a thorough interior and exterior inspection.
The inspections take about half an hour to one hour, depending on the size of the house.
A "Uniform Residential Appraisal Report" typically consists of a letter of transmittal; neighborhood
analysis; description of the site; description of the improvements; cost approach; direct sales comparison approach
utilizing comparable sales on the comparison grid; reconciliation; definition of market value; certification; contingent &
limiting conditions; firrea addendum; interior and exterior photos of the subject property; exterior photos of all
comparable sales used; comparable sales location map; sketch of subject property showing room layout; flood map if in print
and qualifications of the appraiser and reviewer.
Individual Condominium Unit Appraisal Report
The Form 1073, "Individual Condominium Unit Appraisal Report" is designed for condominium or homeowner
association individual units. It is extensively used by lenders and other investors for purchases and refinancing purposes.
It is also used for formal certiorari tax appeals, contested matrimonial or any situation involving an individual
condominium or homeowner association unit in which court testimony is contemplated.
The appraiser's description of the physical characteristics of the property and comparable's will be
obtained from reliable data sources. There will be a thorough interior and exterior inspection.
The inspections take about half an hour to one hour, depending on the size of the house.
An "Individual Condominium Unit Appraisal Report" typically consists of a letter of transmittal;
neighborhood analysis; description of the site; description of the improvements; cost approach; direct sales comparison
approach utilizing comparable sales on the comparison grid; reconciliation; definition of market value; certification;
contingent & limiting conditions; firrea addendum; interior and exterior photos of the subject property; exterior photos
of all comparable sales used; comparable sales location map; sketch of subject property showing room layout; flood map if
in print and qualifications of the appraiser and reviewer.
Individual Co-operative Apartment Unit Appraisal Report
The Form 1055, "Individual Co-operative Apartment Unit Appraisal Report" is designed for co-operative
apartment individual units. It is extensively used by lenders and other investors for purchases and refinancing purposes.
It is also used for contested matrimonial or any situation involving an individual co-operative apartment unit in which
court testimony is contemplated.
The appraiser's description of the physical characteristics of the property and comparable's will be
obtained from reliable data sources. There will be a thorough interior and exterior inspection.
The inspections take about half an hour to one hour, depending on the size of the house.
An "Individual Co-operative Apartment Unit Appraisal Report" typically consists of a letter of
transmittal; neighborhood analysis; description of the site; description of the improvements; cost approach; direct sales
comparison approach with comparable sales on the comparison grid; reconciliation; definition of market value; certification;
contingent & limiting conditions; co-operative apartment addendum; firrea addendum, interior and exterior photos of the
subject property; exterior photos of all comparable sales used; comparable sales location map; sketch of subject property
showing room layout; flood map if in print and qualifications of the appraiser and reviewer.
Small Residential Income Property Appraisal Report
The Form 1025, "Small Residential Income Property Appraisal Report" is designed for two to four
family income properties. It is extensively used by lenders and other investors for purchases and refinancing purposes.
It is also used for formal certiorari tax appeals, condemnation, contested matrimonial or any situation involving a two
to four family income property in which court testimony is contemplated.
The appraiser's description of the physical characteristics of the property and comparable's will be
obtained from reliable data sources. There will be a thorough interior and exterior inspection.
The inspections take about half an hour to one hour, depending on the size of the house.
A "Small Residential Income Property Appraisal Report" typically consists of a letter of transmittal;
neighborhood analysis; description of the site; description of the improvements; rental income analysis; cost approach;
income approach; direct sales comparison approach with comparable sales; reconciliation; operating income statement,
definition of market value; certification; contingent & limiting conditions; firrea addendum; interior and exterior photos
of the subject property; exterior photos of all comparable sales used; comparable sales location map; sketch of subject
property showing room layout; flood map if in print and qualifications of the appraiser and reviewer.
Commercial Appraisal Reports - Short Form Report
We offer a low cost short form "Limited Commercial/Industrial/land Appraisal and Summary Report".
It has been widely accepted for use where a more lengthy narrative report is not necessary. It can be used for uncontested
matrimonial, estate or financial planning, gift tax, bail bonds, partnership/corporate buyout or to establish fair market
value for sellers or purchasers. It is available for use on small non-complex commercial & industrial properties or vacant
land (except subdivision).
The appraiser's description of the physical characteristics of the property will be obtained from
reliable data sources and either an interior and exterior inspection or drive-by exterior inspection (when interior access
is not possible or desired). The inspections take about half an hour to one hour, depending on the size of the building.
Our "short form Commercial/Industrial Appraisal Report" typically consists of a letter of transmittal;
brief neighborhood analysis; brief description of the site; brief description of the improvements; direct sales comparison
approach; reconciliation; definition of market value; certification; contingent & limiting conditions; exterior photos of
the subject property; exterior photos of all comparable sales used; comparable sales location map and qualifications of the
appraiser and reviewer.
Brief Narrative Appraisal Report
Our "Brief Narrative Appraisal Report" is designed for any type of commercial or Industrial property or
vacant land (except sub-division) It is used for formal certiorari tax appeals, condemnation, contested matrimonial or any
situation involving small non-complex commercial property, industrial property or vacant land in which court testimony is
contemplated.
The appraiser's description of the physical characteristics of the property and comparable's will be
obtained from reliable data sources.There will be a thorough interior and exterior inspection.
The inspection will generally take from one hour to two hours, depending on the size and complexity of the building.
Our "Brief Narrative Appraisal Report" is a "summary" report which typically consists of a letter of
transmittal; summary of important conclusions, regional analysis, neighborhood analysis; description of the site;
description of the improvements; highest and best use analysis; zoning analysis; tax analysis; statement of ownership;
property rights appraised; scope of the appraisal; cost approach; income approach; direct sales comparison approach
utilizing comparable sales on the comparison grid; reconciliation; description of the appraisal process, definition of
market value; certification; contingent & limiting conditions; firrea addendum; interior and exterior photos of the
subject property; exterior photos of all comparable sales used; comparable sales location map; sketch of subject property
showing layout; flood map if in print and qualifications of the appraiser and reviewer.
Full Narrative Appraisal Report
Our "Full Narrative Appraisal Report" is designed for any type of commercial or Industrial property or
vacant land including sub-division. It is extensively used by lenders and other investors for purchases and refinancing
purposes. It is also used for formal certiorari tax appeals, condemnation, contested matrimonial or any situation
involving complex commercial property, industrial property or vacant land in which court testimony is contemplated.
The appraiser's description of the physical characteristics of the property and comparable's will be
obtained from reliable data sources.There will be a thorough interior and exterior inspection.
The inspection will generally take from one hour to two hours, depending on the size and complexity of the building.
At Inland Associates Inc. a "Full Narrative Appraisal Report" is a "self contained" in depth report
which typically consists of a letter of transmittal; summary of important conclusions, regional analysis, neighborhood
analysis; description of the site; description of the improvements; highest and best use analysis; zoning analysis; tax
analysis; statement of ownership; property rights appraised; scope of the appraisal; cost approach; income approach;
direct sales comparison approach utilizing comparable sales on the comparison grid; reconciliation; description of the
appraisal process, definition of market value; certification; contingent & limiting conditions; firrea addendum; interior
and exterior photos of the subject property; exterior photos of all comparable sales used; comparable sales location map;
sketch of subject property showing layout; flood map if in print and qualifications of the appraiser and reviewer.
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