
SUPPLEMENTAL REAL ESTATE OWNED APPRAISAL ADDENDUM Property Address Legal Description Is the subject property currently listed? Listing Company/Address/Phone: COMPETING LISTINGS ITEM Address City Yes.
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How to fill out the Reo Addendum online
Filling out the Reo Addendum online is a straightforward process that can help streamline your real estate appraisal needs. This guide provides clear, step-by-step instructions for each section of the form to assist you in completing it accurately and efficiently.
Follow the steps to fill out the Reo Addendum online:
- Click the ‘Get Form’ button to obtain the Reo Addendum and open it in your preferred editor.
- Begin filling in the property address and legal description fields accurately, ensuring all details are correct.
- Indicate whether the subject property is currently listed by selecting 'Yes' or 'No'.
- Provide the listing company name, along with their address and phone number.
- For competing listings, enter the details for each listing, including address, city, state, county, zip code, agent information, and current list price.
- Detail the original and current list prices, last price revision date, and days-on-market for each competing listing.
- Input the above grade room count, including total rooms, bedrooms, and bathrooms for the subject property and each competing listing.
- Describe the approximate gross living area and any other relevant specifications like basement area and car storage.
- Elaborate on the value-related differences between the subject property and competing listings, touching on aspects such as location and appeal.
- List positive and negative factors affecting marketability and value, alongside any current economic trends.
- Provide an itemized list of recommended repairs along with cost estimates for each item.
- List any recommended inspections and include explanations for these recommendations.
- Document the number of days-on-market for comparable sales and provide any necessary comments.
- Fill in the estimated market values, including 'AS-IS' and 'AS-REPAIRED' valuations based on provided criteria.
- Finalize by signing the form, including the appraiser's and supervisory appraiser's signatures, names, and dates.
- Once completed, you can save changes, download, print, or share the Reo Addendum as needed.
Complete your Reo Addendum online today for a smoother appraisal process.
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