Desktop Appraisal Report Form – Fill Out and Use This PDF

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Fannie Mae Form 2055 9-96

Form 205 – "TOTAL for Windows" appraisal software by a la mode, inc. – 1-800-ALAMODE

stimulus.

Implicit in this definition is

the consummation of a sale as

of

a

specified date

and

the

passing of

title

from

seller

to

buyer

under conditions

whereby:

(1) buyer

and seller are typically motivated;

(2)

both parties are well informed or well advised, and each acting

in

what

he considers

his

own

best

interest;

(3)

a reasonable time is

allowed for exposure in

the open market;

(4) payment

is

made

in

terms

of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration

for

the

property

sold

unaffected

by

special

or

creative financing or

sales

concessions*

granted

by anyone

associated

with

the

sale.

costs

which

are normally paid by sellers as a

result of tradition or

law

in

a market

area; these costs are

readily

identifiable

since the

seller

pays

these costs in virtually all sales transactions.

Special

or

creative financing adjustments can be made

to the comparable

property

by

comparisons to

financing terms offered by a

third party institutional lender that is not already involved in the property or

transaction.

Any adjustment should not be calculated on a

mechanical dollar for dollar cost of the financing or concession but the dollar

amount

of

any adjustment

should approximate

the market's

reaction

to

the

financing

or concessions based

on the

appraiser's

judgment.

2.

The appraiser has provided any required sketch in the appraisal report to show approximate dimensions of the improvements and the sketch

is

included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size.

wastes,

toxic substances, etc.)

observed

during the

inspection

of

the

subject

property

or

that

he

or

she

became aware

of during

the

normal research

involved in

performing

the

appraisal.

Unless otherwise stated

in the

appraisal

report,

the appraiser has no knowledge

of

any

hidden

or

unapparent

conditions

of

the

property or adverse environmental conditions (including

the

presence

of

hazardous

wastes,

toxic substances, etc.) that would make the

property more or less valuable,

and has

assumed

that there

are

no

such

conditions and

makes

no guarantees or warranties, expressed

or

implied,

regarding

the condition

of

the

property.

The appraiser will not be

responsible for any such conditions that do exist or

for

any engineering or testing that might

be

required

to

discover

whether

such

conditions

exist.

Because

the

appraiser

is not an

expert

in

the

field

of

environmental

hazards,

the

appraisal

report

must

not

be

considered

report

(including

conclusions

about

the

property

value,

the

appraiser's identity

and

professional

designations,

and

references

to any

professional appraisal

organizations

or the

firm with

which

the

appraiser

is

associated) to anyone other than the

borrower;

the mortgagee or its successors and

assigns; the mortgage

insurer;

consultants;

professional

appraisal

organizations;

any

state

or

federally approved financial institution; or any department, agency, or instrumentality of

the United States or any state or the

District

of

Columbia; except that the lender/client may distribute the report to data

collection

or

reporting service(s) without having to

obtain

the

appraiser's prior

written consent.

The

appraiser's

written consent

and

approval

must also

be

obtained

before the appraisal can

be

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Fannie Mae Form 2055 9-96

Form 205 – "TOTAL for Windows" appraisal software by a la mode, inc. – 1-800-ALAMODE

comparable

sales

in

this

report that are the best

available

for

the

subject

property.

I

further

certify

that

adequate

comparable

market

data

exists

in the

general

market area

to

develop

a

reliable

sales comparison

analysis

for

the

subject

property.

3.

I have

taken

into

consideration the factors

that

have

an

impact

on

value

in

my

development

of

the estimate of

market

value

in

the

appraisal report.

I

further

certify

that I have

noted any

apparent

or

known

adverse

conditions

in

the

subject

improvements,

on

the

subject

site, or

on

any

site

within

the immediate

vicinity

of

the subject

property

of

which

I am

aware,

have

considered

these

adverse

estimate

of market value in the appraisal report on the

race,

color,

religion, sex,

age,

marital status, handicap, familial

status,

or national

origin of

either the prospective owners or occupants of

the

subject

property or

of

the present owners or occupants

of the

properties

in the vicinity of the subject property or on any other basis prohibited by law.

compensation and/or employment for performing the appraisal.

I did not base the appraisal report on a requested minimum valuation,

a specific valuation, or the need to approve a specific mortgage loan.

Practice that were adopted and promulgated

by

the

Appraisal

Standards Board of The Appraisal Foundation and that were in place as of

the

effective

date

of

the appraisal (unless I

have

otherwise

indicated in this

report that the

appraisal

is

a complete appraisal,

in

which

case, the Departure Provision does not apply).

10. I acknowledge that an estimate of a reasonable

time for

exposure in the open market is a condition in the

definition

of market

value.

The

exposure

time

associated

with

the estimate of

market

value for the subject property is consistent

with

the

marketing

time

noted

in the Neighborhood

section of

this

report.

The

marketing

period

concluded

for

the subject

property

at

the

estimated

market

value

is

also consistent with the marketing time noted in the Neighborhood section.

11.

I personally

prepared

all

conclusions

and

opinions

about

the

real

estate that were set forth

in

the

appraisal

report.

I

further certify that no one provided significant professional assistance to me in the development of this appraisal.

SUPERVISORY APPRAISER'S CERTIFICATION:

If

a

supervisory

appraiser

signed

the

appraisal report, he

or

she

certifies

and

agrees

that:

I directly supervise the appraiser who prepared the appraisal report, have examined

the appraisal report for compliance

with

the Uniform

Standards

of Professional Appraisal Practice, agree with the statements

and conclusions of the appraiser, agree to be bound by the appraiser's

certifications numbered 5 through 7 above, and am taking full responsibility for the appraisal and the appraisal report.

APPRAISER:

SUPERVISORY APPRAISER (ONLY IF REQUIRED):

Signature:

Signature:

Name:

Name:

Company Name:

Company Name:

Company Address:

Company Address:

Date of Report/Signature:

Date of Report/Signature:

State Certification #:

State Certification #:

or State License #:

or State License #:

State:

State:

Expiration Date of Certification or License:

Expiration Date of Certification or License:

,

SUBJECT PROPERTY

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Fannie Mae Form 2055 9-96