1004D – Update
The Appraisal Update is used to update a previous appraisal’s effective date. The Appraiser will perform an exterior inspection, and indicate on the new report whether or not the subject’s market value has changed since the original inspection.
1004D – Completion
The Completion or Final Inspection report is used when the original appraisal was completed ‘Subject To’. This report will verify that the conditions of the original report have been met, and will require an inspection to ensure that the necessary changes were made.
This report is an Appraiser assisted Automated Valuation Model (AVM).
BPO – Broker Price Opinion
Used by Brokers and Realtors to get an Appraisers opinion of what a house should be listed for.
Used to appraise vacant land or property only. The market value is based on comparable properties.
1007 – Rent Survey
Used to provide an estimate of the market rent of a property based on comparable rentals in the area.
216 – Operating Income Statement
Used to provide an estimated operating income associated with the income property.
A desktop appraisal is an appraisal completed at the desk of the appraiser. They do not drive by your home or go into your home. They will gather basic information about your home and assume that it is in average condition.
Typically used by Brokers or Realtors who want the exact square footage of a property.