Property Valuation
An Iowa appraisal report using the URAR (Uniform Residential Appraisal Report) Form 1004 is used for:
ACommercial investment properties
BOne- to four-unit residential properties for conventional mortgage purposes✓ Correct
CIowa farmland valuations
DSpecial-use properties only
Explanation
The URAR Form 1004 is the standard appraisal report form used for one- to four-unit single-family residential properties for conventional mortgage lending. It is required by Fannie Mae, Freddie Mac, FHA, and VA for most residential loan appraisals.
Related Iowa Property Valuation Questions
- In Iowa, the cost approach to value estimates property value by:
- In Iowa farmland valuation, which factor is typically most important?
- Gross Rent Multiplier (GRM) is calculated by:
- Reproduction cost in appraisal means:
- The principle of substitution states that:
- An appraiser is evaluating a commercial property with the following: Potential Gross Income = $80,000; Vacancy = 5%; Operating Expenses = $35,000. What is the Net Operating Income?
- Which Iowa property type would most likely be appraised using the income approach?
- In Iowa, the comparable sales approach requires the appraiser to find sales of properties that are:
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