Fannie Mae Form 1004 URAR Appraisal 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
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 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.