Fannie Mae Form 1073 Individual Condominium Unit Appraisal Report with Supplemental REO Addendum
This report is used to communicate the estimate of market value of the subject property as defined in Uniform Standards of Professional Appraisal Practice (USPAP). The properly completed 1073 form is the standard form used to communicate data and analysis of individual condominium units. The 1073, coupled with a Supplemental Real Estate Owned (REO) Addendum, is utilized to clearly communicate the appraiser’s As-Is value conclusion to the client evaluating the subject property for REO purposes.
The product includes: an interior and exterior inspection by a Cocamar approved REO trained appraiser, a completed 1073 form, subject property photos including front, rear, street scene, interior and any appraiser recommended repair items with a cost to cure included on a Supplemental REO Addendum, comparable sales photographs, flood map if property is located in a flood zone, a building sketch with interior dimensions and gross living area calculations, comparable listings, location map showing locations of the subject and comparables utilized in the report.
**Prior to delivery to the client, the report will be reviewed by a Cocamar staff member for consistency and accuracy. If inconsistent or inaccurate data are identified by the staff member reviewer, the report will be returned to the appraiser for revision until it meets Cocamar and client-specific standards.