Is 1007 For A Duplex?

In order to estimate the market rent of a property, the Single Family Comparable Rent Schedule Form 1007 is intended to provide an appraiser with a familiar format. It is only appropriate to adjust for differences in the comparables and the subject property if they are significant.

What Is Form 1007 On An Appraisal?

An appraisal form for a single-family investment property is prepared by the appraiser as part of the appraisal process. In this form, you will find all the information you need to determine the market rent for a single-family home. Information about the physical structure, location, and lease terms are requested.

What Is A 1007 Mortgage?

A schedule of single family affordable housing. In this form, the appraiser will be able to estimate the market rent of the subject property using a familiar format. It is not necessary to make adjustments for items of significant difference between the comparables and the subject property. ITEM.

What Is The Difference Between 1007 And 216?

The Fannie Mae Form 1007 is used to estimate the market rent for the subject property. The Fannie Mae Form 216 is used to estimate the operating income associated with the property.

What Is Comparable Rent Schedule?

In this form, the appraiser will be able to estimate the market rent of the subject property using a familiar format. It is not necessary to make adjustments for items of significant difference between the comparables and the subject property.

How Much Is A 1007 Appraisal?

Type

Description

Cost

Residential Vacant Land/Land Value

Vacant land or land value

$250

Additional Form

1007 Rental Survey / 216 Operating Income Statement / REO Addendum

$50 each

2075 / 2070

Marketability & Condition Report (Drive By – No Value Given to Property)

$125

What Type Of Appraisal Includes A 1007?

A single family rent schedule (Form 1007) is used by the appraiser to estimate market rent for a single family. In general, the appraiser analyzes three rental properties that share or are related to the subject property in terms of significant rental characteristics.

What Is A Fannie Mae Form 1007?

Form 1007 (8/88) is a Schedule of Comparable Rent for Single Family Residential Properties. In this form, the appraiser will be able to estimate the market rent of the subject property using a familiar format. It is not necessary to make adjustments for items of significant difference between the comparables and the subject property.

What Is A 1007 In Mortgage?

An appraiser can use the Single Family Comparable Rent Schedule Form 1007 to estimate the market rent of a property by providing a familiar format. It is only appropriate to adjust for differences in the comparables and the subject property if they are significant.

What Is A Form 1007 Or Form 1025?

Schedule for Comparable Rent (Form 1007) for a single family or a small rental unit. Please provide copies of the current lease agreement(s) along with the Property Appraisal Report (Form 1025). It is not necessary to have a lease agreement if the property is not currently rented. Market.

What Is A 216 And 1007 On A Appraisal?

In the Single-Family Residential Appraisal, Non-Owner Occupied Report 1004, with 216 and 1007, the market value of a property is estimated based on the Uniform Standard of Professional Appraisal Practice (USPAP). An interior and exterior inspection is provided as part of the process.

What Is The 216 Appraisal Form?

In the Operating Income Statement Report Form 216, 1-4 income investment properties and 2-4 family-owned properties are listed.

What Is Form 216 Used For?

To determine the cash flow and operating income generated by the rental property, you will need to complete Form 216 (Form 216). It is also possible to use Form 1025 to determine the gross income that should be used to determine the property’s income-producing capacity.

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