Products

1. Residential Appraisals

A. Single-Family Appraisals

For individual residential properties designed to house one family. Lenders usually require a standard form appraisal (often called a 1004) for purchase, refinance, or to assess a property’s value prior to approving a loan.

B. Multi-Family Appraisals (2–4 Units)

For small residential income properties. These appraisals help determine the market value and rental income potential of duplexes, triplexes, or fourplexes. Typically required by lenders to ensure the property’s revenue justifies the loan amount.

C. Condo Appraisals

For individual condominium units. Condo appraisals consider factors like comparable sales in the building, homeowner association fees, and shared amenities. Lenders require them to confirm the condo’s value for a mortgage or refinance.

D. Manufactured Home Appraisals

For factory-built homes that are transported to a site and often placed on permanent foundations. Appraisals account for the home’s unique construction, condition, and local comparable sales of similar manufactured properties.

E. Land Appraisals

For vacant or minimally improved land. Appraisers look at location, zoning, permitted uses, and market demand to establish land value. Often needed for new construction, agricultural use, or investment purposes.

F. Cooperative (Co-Op) Appraisals

For properties owned as shares in a housing cooperative corporation. The appraisal analyzes factors like building financials, co-op rules, and unit-specific features. Required by lenders for mortgage purposes when purchasing or refinancing a co-op.

G. Reviews & Special Inspections

  • Desk and Field Reviews: Lenders sometimes request these to double-check the accuracy or validity of a previously completed appraisal.
  • Disaster Inspections / HUD Compliance: Used to confirm a property’s condition, especially after a natural disaster or to verify property repairs.
  • Enhanced/Hybrid Reports: Provide specialized data, such as ACE+PDR or FNM Value Acceptance, which incorporate technology and third-party data for efficiency.

H. Other / Specialty Services

Covers unique or less common needs—like reverse mortgage appraisals, house measurements (for tax or insurance adjustments), or conversions (e.g., converting a conventional report to an FHA appraisal).

2. Commercial Appraisals

A. Commercial Appraisal

A general assessment of income-producing or business-use properties (e.g., office buildings, retail centers, industrial sites). This is typically more detailed and factors in market rents, occupancy rates, and potential cash flows.

B. 71B – Residential Income Property

Used specifically for larger or more complex residential income properties that might still be classified under commercial guidelines. Helps determine market value based on income potential and comparable investments.

C. Commercial Narrative Appraisal Report

A thorough, detailed report often required for significant commercial properties or specialized use cases (e.g., hotels, medical facilities). Includes narrative analysis of local market trends, property income potential, highest and best use, and in-depth risk factors.

D. 71A – Appraisal Report (Long Form)

A long-form, standardized report commonly used for certain commercial or mixed-use properties. It provides extensive documentation on property details, market data, and valuation methodology, meeting specific lender or investor requirements.

3. Add-On Fees and Services

  • Rush Fee
    For clients needing expedited turnaround. Covers the additional time and resources required to prioritize a report.
  • Trip Fee
    Assessed when extra or repeat property visits are required, for instance if initial access was denied or new documentation is needed on-site.
  • AVM (Automated Valuation Model)
    A data-driven, computer-generated estimate of property value. Often used as a preliminary valuation tool or when speed/cost-efficiency is a priority.
  • Comparable Rent (1007) & Operating Income (216) Add-Ons
    • Comparable Rent Schedule (1007): Determines fair rental value by analyzing similar properties.
    • Operating Income Statement (216): Used for investment properties to estimate expenses, income, and cash flow, helping lenders gauge the financial viability.
  • Inspection Only or HUD-92051 Compliance
    Involves a site visit to confirm property condition or completion of certain repairs/upgrades. Often requested by lenders prior to finalizing loan approvals.
  • Report Conversion
    Converting an existing appraisal report to match specific guidelines (e.g., FHA). Useful if a buyer’s financing changes mid-transaction.

How to Use This Page

  • Identify Property Type: Start by locating the category (Residential vs. Commercial) and property type (e.g., Single-Family, Multi-Family, or Condo).
  • Choose the Right Form: Within each category, you’ll find the form or appraisal type (e.g., 1004 for single-family, 1025 for multi-family).
  • Add-On Reports & Fees: If you need a rental analysis (1007) or a quick turnaround (Rush Fee), check under “Add-On Fees and Services.”
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