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The Addendum to Appraisal Report Form 1050A-Addendum includes the recognition that the Appraisal was completed in accordance with Fannie Mae s appraisal requirements. Fannie Mae 5-50SM Form 1050A-Instructions Form 1050A Appraisal Report 2000 Fannie Mae. All rights reserved. If an Page 1 05/00 Purpose of the Appraisal - Determination of Market Value The appraiser must strike the current definition of market value on page one of the Form 1050A and .

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Required exhibits include: Front and street scene photos. Photos of completed improvements. (If the original appraisal was subject to carpet and dishwasher being installed, photos of these items must be furnished.)

Required Exhibits Clear, descriptive photographs (either in black and white or color) that show the front of the subject property, and that are appropriately identified. (Photographs must be originals that are produced either by photography or electronic imaging);

At a minimum, the appraisal report must include photographs of the following: the kitchen; all bathrooms; main living areas of the property (such as the living room, family room, dining room, all bedrooms, etc.); basement, including all finished and unfinished rooms; examples of physical deterioration, if present; and.

essenTiAl elemenTs of credible ApprAisAl The appraisal report must include the definition of value (e.g., market value), the effective date of value, the subject property's relevant characteristics, and any other special instructions from the lender, Fannie Mae, Freddie Mac, VA, FHA, etc.

Photographs of the subject property The PDR must include, at a minimum, the following photographs: A front view of the subject property. A rear view of the subject property. A view of any sides of the subject property that are not wholly visible in the front or rear photographs.

Reporting: Appraisers use photos in appraisal reports to help tell the story of the house to the client. Photos can highlight condition, layout, quality, recent updates, etc…, so they are an important part of the appraisal process.

Fannie Mae will allow the use of an origination appraisal for a subsequent transaction if the following requirements are met: The subsequent transaction may only be a limited cash-out refinance. The age of the appraisal report must be less than 12 months from the note date of the subsequent transaction.

Fannie Mae permits an appraisal to be based on the “as-is” condition of the property as long as any minor conditions, such as deferred maintenance, do not affect the safety, soundness, or structural integrity of the property, and the appraiser's opinion of value reflects the existence of these conditions.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232