ExteriorOnly Inspection Residential Appraisal ReportFile #The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market.
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How to fill out the 2055 Form online
The 2055 Form, also known as the Exterior-Only Inspection Residential Appraisal Report, is an essential document used to provide a market value assessment of a property based on exterior inspection. This guide will assist users in accurately completing the form online, ensuring all necessary information is included for thorough appraisal.
Follow the steps to complete the 2055 Form effectively.
- Click ‘Get Form’ button to obtain the 2055 Form and open it in the editor.
- Begin by entering the property address, including the city, state, and zip code. Ensure the details are correct to avoid processing delays.
- Fill in borrower details, including the owner of public record and county information. This section is vital for identifying ownership.
- Provide the legal description, assessor’s parcel number, and tax year along with real estate taxes to assist in property identification.
- In the neighborhood characteristics section, specify the type of neighborhood and housing trends. This information supports your assessment of the market.
- Indicate the property rights appraised. It could be fee simple, leasehold, or other types, depending on the property circumstances.
- Complete details on current occupancy, special assessments, and homeowner association fees if applicable. These factors impact property valuations.
- Answer questions regarding whether the property has been offered for sale over the past year and provide any relevant contract details, including price and date.
- Proceed to assess the comparable sales. Enter details for each comparable sale, including proximity, sale price, and adjustments made.
- Finalize the form by reviewing all entries for accuracy. Save changes, download, print, or share the completed form as necessary.
Start filling out your 2055 Form online today to ensure a smooth appraisal process.
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Get answers to your most pressing questions about US Legal Forms API.
What is a 2055 appraisal?
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.
What is a 2055?
Form 2055 is a Uniform Standards of Professional Appraisal Practice (USPAP) compliant appraisal report that is based on an exterior-only inspection of a single family detached, attached, planned unit development (PUD) property. The report is to include: A supported opinion of site value.
What is a Form 2075 for appraisal?
Desktop Underwriter's enhanced risk assessment capability enables the use of the Desktop Underwriter® Property Inspection Report (Form 2075), which requires an exterior-only inspection of the subject property from the street by a state-licensed or state-certified appraiser without an estimate of market value for the ...
What is the purpose of Ucdp?
The lender admin has authority within UCDP to set up and manage their company's business structure in the portal, and grant access privileges to other general users within their lender organization. If you are the lender admin, you must complete the GSE registration process for either or both GSEs.
What is a 2055 appraisal form?
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.
What is a UCDP submission summary report?
Summary Report section in the UCDP General User Guide. The Submission Summary Report displays information about a specific Doc File ID including its related appraisal data files.
What is an exterior only appraisal?
An Exterior-Only Inspection Residential Appraisal Report allows an appraiser to document observations based off of the following actions: An exterior inspection of the subject property. A street map that shows the location of the subject property and of all comparables used.
What is a 1025 appraisal form?
The Small Residential Income Property Appraisal Report (FHLMC 72/FNMA 1025) is for the appraisal of two- to four-unit properties, including properties in PUD, condo or co-op projects. ... Data indicating physical characteristics of the subject property such as age, materials and condition.
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