Property Valuation
Which of the following is the primary document used by an appraiser for a standard residential appraisal?
AFNMA Form 1025
BFannie Mae/Freddie Mac Form 1004 (Uniform Residential Appraisal Report)✓ Correct
CFNMA Form 1073
DFNMA Form 2090
Explanation
The Uniform Residential Appraisal Report (URAR), Fannie Mae/Freddie Mac Form 1004, is the standard form used for single-family residential appraisals for mortgage lending purposes.
Related Arkansas Property Valuation Questions
- The principle of 'substitution' in real estate appraisal states that:
- The leasehold interest represents:
- A comparable property sold for $250,000 but has a garage worth $10,000 that the subject property lacks. The adjusted value of the comparable for comparison to the subject is:
- Functional obsolescence in a residential property is best illustrated by:
- In the income approach to value, Net Operating Income (NOI) is calculated as:
- The principle of HIGHEST AND BEST USE means the use that is:
- A property has an NOI of $36,000 and a cap rate of 8%. What is its estimated value?
- Functional obsolescence in a property is caused by:
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