Appraisal Typesweda2004

Although there are numerous types of appraisals available, the majority of our focus is on the appraisal types listed below.  Should you have or need a special type of analysis please contact us so we can determine which option is best for you.

Uniform Residential Appraisal Report (Form 1004)

  • Most comprehensive collateral assessment product offered by Worth Every Dollar Appraisals, LLC
  • Considers market value trends, supply and demand, and marketing times
  • Provides indicated value by cost approach
  • Provides a sales comparison analysis grid with indicated value by sales comparison approach
  • Detailed comparable grid includes fence, pool, porch, patio, deck, garage/carport, heating/cooling, and functional utility
  • Quantitative adjustments to comparable sales
  • Estimates a specific market value

FHA Appraisal (Form 1004)

  • FHA appraisal provided in a uniform format for reporting neighborhood, site, and improvement descriptions
  • URAR, Multi-Family, or Duplex may apply
  • Includes a HUD/FHA Valuation Condition Sheet and HUD/FHA Home Buyers Summary listing detailed condition of property and required improvements prior to loan closing
  • Considers market value trends, supply and demand, and marketing times
  • Provides a sales comparison analysis grid with indicated value by sales comparison approach
  • Quantitative adjustments to comparable sales
  • Estimates a specific market value

Reinspection/Satisfactory Completion Report (Form 1004D)

  • Update to a previous appraisal that was prepared subject to completion of repairs or incomplete items
  • Notes items completed or still need to be completed since time of original appraisal
  • Same appraiser performs reinspection who completed original appraisal report
  • Allows lender to ascertain the current construction status of subject property without incurring the cost of another appraisal

Multi-Family Appraisal (Form 1025)

  • Small residential income property appraisal report for two- to four-family residences
  • Provides neighborhood, site, and improvement descriptions
  • Provides general description of subject’s exterior, foundation, basement, and insulation
  • Notes condition of improvements, depreciation, repairs needed, and quality of construction

Co-op Appraisal (Form 1075)

  • Provides blanket mortgage information, which is in effect for the co-operative project as a whole to determine potential risks for the loan
  • Considers market value trends, supply and demand, and marketing time
  • Room count and actual square footage by GLA
  • Notes condition of improvements, depreciation, repairs needed, and quality of construction
  • Project and phase information includes number of units, number of units for sale, and number of units currently rented which
  • Allows assessment for any location risk within the complex

Condominium Appraisal (Form 1073)

  • Considers market value trends, supply and demand, and marketing times
  • Room count and actual square footage by GLA
  • Notes condition of improvements, depreciation, repairs needed, and quality of construction
  • Project and phase information includes number of units, number of units for sale, and number of units currently rented which allows assessment for any location risk within the complex

Quantitative Analysis Appraisal Report (Form 2055)

  • Summary appraisal report documentation but includes extensive property information
  • Provides quantitative adjustments to comparable sales
  • Estimates a specific value
  • Increase efficiency and reduce costs
  • Detailed comparable grid includes design/style, basement area and functional rooms, and leasehold/fee simple

Qualitative Analysis Appraisal Report (Form 2065)

  • Summary appraisal report that conforms to USPAP requirements
  • Relies solely on sales comparison approach to value as an indicator of market value
  • Eliminates cost and income approaches
  • Provides a specified market value
  • Qualitative adjustments to comparable

Condition and Marketability Report (Form 2070)

  • Summary appraisal report that conforms to USPAP requirements
  • Reports general condition of the subject property and marketability factors
  • Reports current market conditions of the neighborhood
  • Option for upgrade path as adverse factors are observed
  • No estimate of market value

Property Inspection Report (Form 2075)

  • Exterior inspection of the subject property from the street
  • Report consists of limited subject property and marketability factors
  • No estimate of market value

Land Only Appraisal

  • Estimates the market value of unimproved sales suitable for residential development
  • Includes a signed Appraiser’s Certification

Plans/Specs Appraisal

  • Used for new construction to review plans and specifications to determine estimated market value
  • Provides general description of subject’s exterior, foundation, basement, and insulation
  • Calculates room count and actual square footage for GLA
  • Notes condition of improvements, depreciation, repairs needed, and quality of construction
  • Provides sales comparison analysis grid with indicated value by sales comparison approach

Supplemental REO Appraisal Addendum

  • Comprehensive valuation program for residential real properties throughout the various stages of foreclosure and asset disposition process
  • Supplemental REO appraisal addendum included with standard URAR 1004 Form
  • Provides general description of subject’s exterior, foundation, basement, and insulation
  • Notes condition of improvements, depreciation(physical function and external), repairs needed, and quality of construction
  • Identifies competing listings and market trends
  • Provides “as is” and “as repaired” values for normal marketing times
  • Provides “as is” and “as repaired” values given client-imposed marketing time