ADDITIONAL FORMS AND ADDEDUMS
Single-Family Comparable Rent Schedule (Form 1007)
The lender uses this form to obtain the market rent for a conventional single-family investment property from the appraiser.
Appraisal Update and/or Completion Report (Form 1004D)
This report form is intended to provide the lender/client with an accurate update of a prior appraisal and/or to report a certification of completion. The appraiser must identify the service(s) provided by selecting the appropriate report type.
Scope of Work for an Appraisal Update
The appraiser must, at a minimum:
- concur with the original appraisal,
- perform an exterior inspection of the subject property from at least the street, and
- research, verify, and analyze current market data in order to determine if the property has declined in value since the effective date of the original appraisal.
For new or proposed construction, clear, descriptive photographs (either in black and white or color) of the completed improvements must accompany this report form
Any other data–as an attachment or addendum to the appraisal report form–that are necessary to provide an adequately supported opinion of market value