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Fannie Mae
Form 1004. Uniform Residential Appraisal Report. Also
known as the Freddie Mac Form 70. This is the 'standard' appraisal form
that is sometimes known as a 'full appraisal.' This version is the
revised (March 2005) version and requires an interior and exterior
inspection of the subject property. This is one of the most popular form
reports available.
 Fannie
Mae Form 2055. Exterior-Only Inspection Residential Appraisal
Report. Also known as the Freddie Mac Form 2055. It was created
for the lending industry and is sometimes knows as a 'short form'
appraisal. It does not contain a lot of data about the subject property
and it only uses the sales comparison approach as its sole approach to
value. It's useful for anyone needing an appraisal on a property that
they are already familiar with and are willing to sacrifice some detail
in the appraisal in order to save some money. This form can also be used
with an interior inspection of the subject property and that is the only
way that we accept assignments based on this form. That's because this
form does not allow us to make assumptions about the interior condition
of the property we are appraising, and it's virtually impossible to
complete this form by 'guessing' at what's inside the house.
FNMA
Form 1025. Small Residential Income Property Appraisal Report.
this form is also known as the Freddie Mac Form 72 and is used
with multi-family properties. It is a very detailed appraisal report
that provides information on comparable rental properties, cost, sales,
and income approaches to value. It is used for 2-4 family properties,
though we can sometimes use the Fannie Mae Form 1004 for a duplex.
 Fannie
Mae Form 1073. Individual Condominium Unit Appraisal Report.
Also known as the Freddie Mac Form 465. This is the standard form used
for condominiums.
 Fannie
Mae 1004D. Appraisal Update and/or Completion Report.
This is also know as Freddie Mac Form 442. This form can be used in two
different ways. First, it can be used to report whether the subject
property has declined in value since the original appraisal was
completed. Even though this form is rather short in length, we still
have to analyze a lot of data that is stored in our work file in order
to substantiate whether or not the subject's value has declined.
Secondly, this form can be used as a certification of completion based
upon a prior appraisal that was developed subject-to some sort of
condition(s).
 Fannie
Mae Form 2000. One-Unit Residential Appraisal Field Review
Report. Also known as Freddie Mac Form 1032. This form can be
used to report the findings of a field review of an appraisal.
 Fannie
Mae Form 2000a. Two-to Four-Unit Residential Appraisal Field
Review Report. Also known as Freddie Mac Form 1072. This is
similar to the form above (2000) except that it is used to review an
appraisal of a multi-unit property.
 ERC appraisal form- this form is used for relocation
appraisals and was created by the Employee Relocation
Council. This form is used to report the appraiser's
estimate of the anticipated selling price of a property. If
you are being transferred by an employer and they have a
relocation program then this is the type of report they
would order.
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