Fillable PPRAISAL REPORT CHECKLIST PUD, SFR

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PPRAISAL REPORT CHECKLIST PUD, SFR

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  • 120 check-boxes
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Page | 1 2/13/14
A
PPRAISAL REPORT CHECKLIST
-
PUD, SFR
Subject Section
1. Does the property address and seller/borrowers names match the loan file? [ ] Y [ ] N
2. Are there any Special Assessments? If so, how much?
______________ [ ] Y [ ] N
3. How are the property rights appraised?
[ ] Y [ ] N
4. Has the subject property been offered for sale in the past 12 months?
[ ] Y [ ] N
5. Is the property a PUD or Condo?
[ ] Y [ ] N
Contract Section
6. Did the appraiser analyze the contract (if applicable)? [ ] Y [ ] N
7. Is the property seller the owner of public record?
[ ] Y [ ] N
8. Is the contract an arms length sale?
[ ] Y [ ] N
9. Is there any financial assistance being paid by any party on behalf of the borrower?
[ ] Y [ ] N
Neighborhood Section
10. Is the location rural or less than 25% built up? [ ] Y [ ] N
11. Are the property values declining?
[ ] Y [ ] N
12. Does the demand/supply reflect an oversupply?
[ ] Y [ ] N
13. Is the marketing time more than 6 months?
[ ] Y [ ] N
14. Is the sales price within the neighborhood price range?
[ ] Y [ ] N
15. Are there any negative comments in the neighborhood section?
[ ] Y [ ] N
Site Section
16. Is the zoning rated legal nonconforming or illegal? [ ] Y [ ] N
17. Is the present use the highest and best use?
[ ] Y [ ] N
18. Is the property in a Special Flood Hazard area?
[ ] Y [ ] N
19. Are the Utilities and/or the Off-Site Improvements public?
[ ] Y [ ] N
20. Are there any adverse comments
(e.g., environmental conditions, land uses, easements, view)? [ ] Y [ ] N
Improvements Section
21. Does the Condition Rating of C1-C6 meet guidelines or investor criteria? [ ] Y [ ] N
22. Are there any comments indicating adverse property conditions
(e.g., settlement, dampness, repairs)? [ ] Y [ ] N
23. Are there any physical deficiencies or adverse conditions that affect livability, soundness or
structural integrity of the property?
[ ] Y [ ] N
24. Does the property conform to the neighborhood?
[ ] Y [ ] N
Sales Comparison Approach Section
25. Does the Quality Rating of Q1-Q6 meet guidelines or investor criteria? [ ] Y [ ] N
26. Are the comparable sales located within an acceptable distance from the subject?
[ ] Y [ ] N
27. In a declining market, did the appraiser include at least 2 comparable sales that closed within 90
days and 2 current listings or pending sales?
[ ] Y [ ] N
28. Are there 3 comparable sales that have closed within the last 6 months or appropriate time frame
for current market conditions?
[ ] Y [ ] N
29. Does the location of the comparable sales cross any major boundaries outside of the Neighborhood
of the subject property?
[ ] Y [ ] N
30. Did the appraiser select a rating and factor both location and view?
[ ] Y [ ] N
31. Are the comparables similar to the subject in location, design, age, size, room count and amenities?
[ ] Y [ ] N
32. Are there any line adjustments that exceed 10% tolerance?
[ ] Y [ ] N
33. Are there any net adjustments that exceed 15%?
[ ] Y [ ] N
34. Are there any gross adjustments that exceed the 25% tolerance?
[ ] Y [ ] N
35. Has the appraiser entered a (0) in the adjustment line if feature/aspect of subject differs from
comparable but no adjustment is warranted? [ ] Y [ ] N
36. Has the appraiser completed a 3 year sales history for the subject property and one year history for
the comparables?
[ ] Y [ ] N
Page | 2 2/13/14
A
PPRAISAL REPORT CHECKLIST
-
PUD, SFR
37. Has the subject sold within the last year with a significant increase or decrease reflected in the
current estimated value?
[ ] Y [ ] N
38. Are there any negative comments in the Sales Comparison section?
[ ] Y [ ] N
Reconciliation Section
39. Is the appraisal made “AS IS”? [ ] Y [ ] N
40. Is the appraisal report more than 120 days old?
[ ] Y [ ] N
41. Does the appraised value support the sales price?
[ ] Y [ ] N
42. Are there any negative comments?
[ ] Y [ ] N
Cost Approach Section
43. Is the land-to-value ratio typical for the area? [ ] Y [ ] N
44. Did the appraiser add the estimated remaining economic life
(required on FHA & VA)? [ ] Y [ ] N
45. Does the square footage match the square footage in the improvements section?
[ ] Y [ ] N
PUD Section
46. Is the developer/builder in control of the Homeowner’s Association (HOA)? [ ] Y [ ] N
47. Was the project created by conversion of an existing building (s) into a PUD?
[ ] Y [ ] N
48. Does the project contain any multi-dwelling units?
[ ] Y [ ] N
49. Are the units/common elements and recreation facilities complete?
[ ] Y [ ] N
50. Are the common elements leased to or owned by the Homeowner’s Association?
[ ] Y [ ] N
Addenda Section
51. Is there a street map that identifies the locations of the subject and comparable sales? [ ] Y [ ] N
52. Does the building sketch differ from the bedroom and bath counts in the body of the appraisal?
[ ] Y [ ] N
53. Do the photos of the subject and comparbles reflect similar design and appeal?
[ ] Y [ ] N
54. Are there any adverse comments?
[ ] Y [ ] N
Appraiser’s Certification Section
55. Is the appraisal signed and dated and is the appraiser’s certification or license number entered? [ ] Y [ ] N
56. Did the appraiser provide a copy of current license and E & O insurance?
57. Is there a 1004MC Addendum included in the appraisal report?
[ ] Y [ ] N
58. Did the appraiser fully complete the Inventory Analysis, Median Sale & List Price, DOM, Sale/List %
and Overall Trend section?
[ ] Y [ ] N
59. Did the appraiser explain any trends with seller contributions over the past 12 months?
[ ] Y [ ] N
60. Were foreclosure sales a factor in the market?
[ ] Y [ ] N
61. Does the summary of information form the 1004MC Addendum support the conclusions in the
neighborhood section of the appraisal? `
[ ] Y [ ] N
NOTES:_______________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
I CERTIFY THAT I HAVE COMPLETED THE ABOVE TO THE BEST OF MY ABILITY, AND THIS FORM HAS BEEN IMAGED
INTO THE FILE.
______________________________________________
PRINT NAME
______________________________________________ __________________________
SIGNATURE DATE
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Completed 3 December 2020

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