Uniform Residential Appraisal Report Page 3
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7Uniform Residential Appraisal Report
File #
A
D
D
I
T
I
O
N
A
L
C
O
M
M
E
N
T
S
COST APPROACH TO VALUE (not required by Fannie Mae)
Provide adequate information for the lender/client to replicate the below cost figures and calculations.
Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)
C
O
S
ESTIMATED
REPRODUCTION OR
REPLACEMENT COST NEW
OPINION OF SITE VALUE ................................................................. = $
T
Source of cost data
Dwelling
Sq. Ft. @ $
..................... =$
A
Quality rating from cost service
Effective date of cost data
Sq. Ft. @ $
..................... =$
P
Comments on Cost Approach (gross living area calculations, depreciation, etc.)
P
R
Garage/Carport
Sq. Ft. @ $
..................... =$
O
A
Total Estimate of Cost-New
.................... = $
C
Less
Physical
Functional
External
H
Depreciation
=$(
)
Depreciated Cost of Improvements...................................................... =$
“As-is” Value of Site Improvements...................................................... =$
Estimated Remaining Economic Life (HUD and VA only)
Years Indicated Value By Cost Approach ...................................................... =$
I
INCOME APPROACH TO VALUE (not required by Fannie Mae)
N
Estimated Monthly Market Rent $
X Gross Rent Multiplier
= $
Indicated Value by Income Approach
C
O
Summary of Income Approach (including support for market rent and GRM)
M
E
PROJECT INFORMATION FOR PUDs (if applicable)
Is the developer/builder in control of the Homeowners’ Association (HOA)?
Yes
No
Unit type(s)
Detached
Attached
Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.
P
Legal name of project
U
D
Total number of phases
Total number of units
Total number of units sold
I
Total number of units rented
Total number of units for sale
Data source(s)
N
Was the project created by the conversion of an existing building(s) into a PUD?
Yes
No If Yes, date of conversion
F
O
Does the project contain any multi-dwelling units?
Yes
No Data source(s)
R
Are the units, common elements, and recreation facilities complete?
Yes
No If No, describe the status of completion.
M
A
T
I
O
Are the common elements leased to or by the Homeowners’ Association?
Yes
No If Yes, describe the rental terms and options.
N
Describe common elements and recreational facilities
Freddie Mac Form 70 March 2005
Page 3 of 6
Fannie Mae Form 1004 March 2005
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