Standard Desk Review |
- A review of an appraisal provided by a lender, to determine if the opinion of value in the appraisal is reasonable.
- The subject property and comparables are not inspected.
- The reviewer verifies lot size, GLA, sales price, and date of sale for the subject property and the comparables.
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Standard Enhanced Desk Review |
- Same as the Standard Desk Review, with up to 3 additional sales comparables included.
- A location map of the subject property and additional comparables is also included.
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Standard Field Review |
- A review of an appraisal provided by a lender, to determine if the opinion of value in the appraisal is reasonable.
- The subject property and comparables receive an exterior inspection from the street.
- Photographs of the subject's front and street, as well as the sales comparable's front are included.
- The reviewer verifies lot size, GLA, sales price, and date of sale for the subject property and the comparables.
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Standard Enhanced Field Review |
- Same as a Field Review, with up to 3 additional comparables provided.
- A location map of the subject property and additional comparables is also included.
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Standard Field Review w/Interior Inspection |
- A review of an appraisal provided by a lender, to determine if the opinion of value in the appraisal is reasonable.
- The subject property receives an interior inspection and comparables receive an exterior inspection from the street.
- Photographs of the subject's front, street and interior, as well as the sales comparable's front are included.
- The reviewer verifies lot size, GLA, sales price, and date of sale for the subject property and the comparables.
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Appraisal Update and/or Completion Report (FNMA 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.
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Meeting
