Get Residential Appraisal Form - Sample Templates

Filling out the Residential Appraisal Form is a crucial step in evaluating a property's value for various transactions, including purchases and refinances. This guide provides clear, step-by-step instructions to help users complete the form accurately and efficiently online.

Follow the steps to complete the Residential Appraisal Form online.

1. Click ‘Get Form’ button to obtain the form and open it in the suitable online editor.
2. Begin by filling in the property address, including the city, state, and zip code. Ensure that all information is accurate to avoid any issues during the appraisal process.
3. Identify the borrower and the owner of public record. This information is essential for establishing ownership and rights associated with the property.
4. Provide a legal description of the property along with the neighborhood name and any relevant map reference. This helps clarify the exact location and designation of the property.
5. Select the occupant type by marking whether the property is occupied by the owner, a tenant, or is vacant. This section can influence the appraisal's final valuation.
6. Specify any special assessments, property rights appraised, or home ownership associations (HOA) that may apply to the property.
7. Indicate the assignment type, whether it is a purchase, refinance, or other transaction. If other, provide a description for clarity.
8. Fill in the lender or client's information and their address to ensure that the appraisal report is directed to the right entity.
9. Answer whether the property is currently for sale or has been listed for sale in the past year. This insight can impact the appraisal's assessment.
10. Detail the report data sources used, including offering prices and relevant dates, to substantiate the appraisal valuation.
11. Discuss the neighborhood characteristics, including location, growth trends, property values, supply and demand, and marketing time for real estate in the area.
12. Provide information about neighborhood boundaries and descriptions, including any specific conditions that affect the property's value.
13. Assess zoning compliance, indicating if the property is legal, nonconforming, or illegal status, and include any necessary explanations.
14. Evaluate if the highest and best use of the property aligns with its current use. If not, provide a brief description of the alternative use.
15. List the utilities available to the property, including public services and specific utilities like electricity and gas.
16. Indicate any adverse site conditions or external factors related to the property, marking either Yes or No while providing details if applicable.
17. Once all sections have been completed, review all information for accuracy. Finally, users can save changes, download, print, or share the completed form as needed.

Start filling out your Residential Appraisal Form online today for an efficient appraisal process.