Page #1 URAR APPRAISAL DESK REVIEW FNMA/FHLMC SINGLE FAMILY COMPLIANCE Lender Borrower/Client Property Address City Appraiser Appraiser's Address Loan Number County State Phone Zip Code This URAR.

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How to fill out the Desk Review Appraisal Form online

Filling out the Desk Review Appraisal Form accurately is crucial for ensuring a thorough appraisal review. This guide provides a detailed walkthrough to help you complete the form online with clarity and confidence.

Follow the steps to successfully complete the form.

  1. Press the ‘Get Form’ button to access the Desk Review Appraisal Form and open it in your preferred online editor.
  2. Begin by entering the lender's information in the appropriate fields, followed by the borrower's or client's details. Ensure that the property address, city, county, state, phone number, and zip code are accurately filled out.
  3. In the subject property information section, confirm that all details regarding the property are complete and correct, including any special conditions or financing information.
  4. Proceed to the description/classification section and ensure that the neighborhood characteristics are thoroughly described, covering aspects like location, growth rate, and property value trends.
  5. Evaluate the characteristics of the property and confirm that any changes in land use are noted and that their impact on the value is reported.
  6. In the neighborhood section, assess the occupancy rates and occupancy types. Ensure to comment on any excessive vacancies affecting the property's value.
  7. Complete the neighborhood analysis, reporting on external obsolescence and the site improvements. Make sure to describe how local community standards affect the property.
  8. Continue through the form, filling in details regarding private streets, nonconforming uses, FEMA flood hazards, and highest and best use considerations.
  9. Address all improvement sections, including age estimates and interior descriptions. Confirm that the effective age and remaining economic life estimates are consistent.
  10. Finalize the appraisal review by ensuring that all calculations are accurate and provide a thorough sales comparison analysis.
  11. Once all sections have been completed and reviewed, you can save your changes, download the completed form, print it, or share it as needed.

Complete your Desk Review Appraisal Form online today for a comprehensive appraisal review.

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Questions & Answers

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What form is a desktop appraisal on?

Yes, desktop appraisals completed on Forms 1004 and 1073 will be scored by Collateral Underwriter just as traditional appraisals are scored when these forms are used.

The desk review is a very commonly used collateral-assessment, appraisal-review tool. It is used to critique the appraisal of real property, typically on three different occasions. The first is the pre-funding review, which typically takes place immediately prior to the closing of a loan.

Form 2055 is designed to report the results of an appraisal of a 1-unit property, including a unit in a Planned Unit Development (PUD), Detached Condominium Unit or a 1-unit property with an accessory unit. An exterior-only inspection of the subject property is required.

In fact, the desktop appraisal form resembles the Uniform Residential Appraisal Report (URAR), Form 1004, used in Fannie Mae appraisals.

How long does a desktop appraisal take? Besides the cost savings, one of the beauties of a desktop appraisal is the quick turnaround time. While a full appraisal report could take 7 to 10 business days, a desktop appraisal could be done within half of that time or even less.

The most compelling reason to use a desktop valuation is the cost savings. A desktop valuation typically costs between $75 and $200, while a full appraisal can cost $500 or more. It is also a quicker and more hassle-free way to get a written estimate of a home's value.

A desktop appraisal is an appraisal that is done at a desk, without leaving the desk. There's no interior inspection, no exterior inspection, and no measuring. ... Desktop appraisals use the data available to the appraiser via third-party resources.

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Desk Review Appraisal Form Form

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