Code Borrowers Describe the non-realty items, if any, included in the subject sale: Supplemental Neighborhood Information Manufactured Housing Property Values Increasing Stable Declining Manufactured Housing Demand/Supply Shortage In balance Over supply Manufactured Housing Marketing Time Under 3 mos. 3-6 mos. Over 6 mos. Manufactured Housing Price Range Low $ High $ Predominate $ Manufactured Housing Age Range (years) Low High Predominate Describe the market conditions for manufactured homes i.
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How to fill out the Freddie Mac 70B / Fannie Mae 1004C online
This guide provides a comprehensive overview of the Freddie Mac 70B / Fannie Mae 1004C form, an essential document for appraising manufactured homes. By following the steps outlined below, users can efficiently complete and submit the form online.
Follow the steps to successfully fill out the Freddie Mac 70B / Fannie Mae 1004C form online.
- Press the ‘Get Form’ button to access the Freddie Mac 70B / Fannie Mae 1004C form and open it in your preferred online editing tool.
- Enter the property address, including the city, state, and zip code where the manufactured home is located.
- Fill in the names of the borrowers in the designated field.
- Describe any non-realty items included in the sale of the manufactured home, if applicable.
- Provide supplemental neighborhood information regarding the area surrounding the manufactured home.
- Indicate the property value trend (increasing, stable, or declining) for manufactured housing.
- Choose the appropriate option reflecting manufactured housing demand/supply conditions (shortage, in balance, or oversupply).
- State the estimated marketing time for manufactured homes in the area (under 3 months, 3-6 months, or over 6 months).
- Input the manufactured housing price range, including low, high, and predominant price values.
- Document the age range of the manufactured housing, indicating low, high, and predominant years.
- Describe market conditions, including the analysis of comparable properties, sales prices, and any trends observed.
- Complete the section on the subject manufactured home and site information, detailing aspects such as the retailer's name, manufacturer's name, model year, and physical attributes.
- Respond to yes/no questions regarding site conditions, foundation attachment, and utility connections, providing explanations where necessary.
- Provide a rating for the overall condition and quality of the manufactured home, supported by appropriate sources.
- Fill in any required cost approach details, including sources and estimated reproduction costs.
- Finalize the report by reviewing all completed sections, and then save, download, print, or share the form as needed.
Complete your Freddie Mac 70B / Fannie Mae 1004C form online today to ensure accurate documentation.
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Get answers to your most pressing questions about US Legal Forms API.
What is Form 70 Freddie Mac appraisal?
Form 70 is designed to report the results of an appraisal of a 1-unit property, including a unit in a Planned Unit Development (PUD), a Detached Condominium Unit or a 1-unit property with an accessory unit. An interior and exterior inspection of the subject property is required.
Does Fannie Mae require 1004mc?
Is the Market Conditions Addendum to the Appraisal Report (Form 1004MC) required by Fannie Mae? Effective August 7, 2018, Fannie Mae no longer requires Form 1004MC as part of the appraisal report. Other investors may still require submission of Form 1004MC.
What appraisal form does a modular home go on?
Appraisals of modular homes are to be reported using the standard Uniform Residential Appraisal Report (URAR) form. The difference is in how the structure is constructed and transported.
How do you get a mobile home appraised?
Review the NADA Manufactured Housing Appraisal Guide. ... Use the cost approach. ... Be cautious when selecting comparable properties. ... Don't use shipping measurements.
What is a 1004d appraisal?
Fannie Mae Form 1004D: Appraisal Update and/or Completion Report. This report is used to complete an Appraisal Update, a Final Inspection, or both. The Appraisal Update is used to update the effective date of an existing appraisal report.
What is a 1004c?
Fannie Mae Form 1004C March 2005. The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.
What is a 1025 appraisal?
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.
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.
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