Fannie Mae Form 1004 URAR Appraisal FHA with Supplemental REO Addendum
This report is used to communicate an estimate of market value of the subject property as defined in Uniform Standards of Professional Appraisal Practice (USPAP). The properly completed URAR form is the standard form used to communicate data and analysis of single-family dwellings as well as single-family dwellings with an “accessory unit”. This form can also be used for dwellings in a planned unit development (PUD) but is not suitable for appraisals of manufactured homes or condos. The 1004, 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 FHA Roster appraiser, a completed URAR 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 exterior 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, accuracy and compliance with HUD guidelines. If inconsistent or inaccurate data are identified by the staff member, the report will be returned to the appraiser for revision until it meets Cocamar, HUD and client- specific standards.