Does The Appraisal Report Includes The Floor Plan

Layout floor plans and gross building and living areas states.

Does the appraisal report includes the floor plan.

Many appraisers are worried that a so called desktop appraisal will not be uspap compliant if a third party to inspects and or photographs the subject property. A house or home appraisal is an opinion of the property value of your home by a professionally licensed real estate property appraiser. Uspap does not require the appraiser to inspect the subject property. Appraisals are often associated with the home buying process as most lenders require the buyer to obtain an appraisal of value as part of a.

Mid year reviews are conducted timely and according to agency guidelines. Also included are an interior floor plan sketch a location map indicating location of the subject and comparables and plat survey if available. A qualified appraiser creates a report based on a visual inspection using recent sales of similar properties current market trends and aspects of the home e g amenities floor plan square. Dwellings with unusual layouts and floor plans generally have limited market appeal.

The above real estate information on what appraisers look at during a real estate appraisal was provided by bill gassett a nationally recognized leader in his field bill can be reached via email at email protected or by phone at 508 625 0191. The appraiser must use the exterior building dimensions per floor to calculate the above grade gross living area of a property. Fannie mae requires a floor plan sketch that includes the interior walls. Included in the scope of work should be the process the appraiser will use to complete a full and accurate real estate appraisal.

A review of the room list and floor plan for the dwelling unit may indicate an unusual layout such as bedrooms on a level with no bath or a kitchen on a different level from the dining room. Quantitative analysis appraisal report drive by exterior freddie mac 2055. The scope of work must be clearly disclosed in the appraisal report. Fannie mae selling guide october 2013 b4 1 4 14 appraisal report review.

Performance plan that focus on results achieved contain at least one element that is aligned with organizational goals and are in place within 30 calendar days of the beginning of the appraisal period. Uspap does not make an issue of who inspects the property nor who photographs it. What is included in a house appraisal. At a minimum the appraisal report must include a total of three.

Appraisers must use the most recent version of the appraisal report forms and include any other information either as an attachment or addendum to the appraisal report form needed to adequately support the opinion of market value.