Does The Appraisal Report Includes The Floor Plan

Uspap does not make an issue of who inspects the property nor who photographs it.

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. Dwellings with unusual layouts and floor plans generally have limited market appeal. At a minimum the appraisal report must include a total of three. Included in the scope of work should be the process the appraiser will use to complete a full and accurate real estate appraisal.

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. Fannie mae requires a floor plan sketch that includes the interior walls. In the same vein is the appraisal s intended use. Fannie mae selling guide october 2013 b4 1 4 14 appraisal report review.

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. 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. What is included in a house appraisal. The scope of work must be clearly disclosed in the appraisal report.

The appraiser must use the exterior building dimensions per floor to calculate the above grade gross living area of a property. A house or home appraisal is an opinion of the property value of your home by a professionally licensed real estate property appraiser. Layout floor plans and gross building and living areas states. Ratings are accurate and issued within 30 calendar days of.

Mid year reviews are conducted timely and according to agency guidelines. Uspap does not require the appraiser to inspect the subject property. 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. Also included are an interior floor plan sketch a location map indicating location of the subject and comparables and plat survey if available.

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