Review Form Commercial Appraisal PDF Details

If you would like look at a handful of specific details when it comes to the PDF you will work with, here is the facts you might like to go through prior to submitting the review form commercial appraisal.

QuestionAnswer
Form NameReview Form Commercial Appraisal
Form Length2 pages
Fillable?Yes
Fillable fields258
Avg. time to fill out26 min 5 sec
Other namesresidential real estate appraisal review form, commercial appraisal form, appraisal review form, appraisal review forms get

Form Preview Example

COMMERCIAL APPRAISAL REVIEW FORM

The appraisal report which is the subject of this review is briefly identified and described as follows:

Name of Project/Property __________________________________________________________________________________________

Location/Legal __________________________________________________________________________________________________

Type of propert ____________________________________________________________________ Existing Proposed Construction

Name of Appraiser _________________________________________________________________ Telephone ____________________

Address

_______________________________________________________________________________________________________

Report Addressed to: _______________________________________________________________ Telephone ____________________

Address

_______________________________________________________________________________________________________

Type of Appraisal Report: Narrative Printed Form Other (identify) ___________________________________________________

Section I — Purpose and Function of Appraisal

Value Sought:

Market Value

Other (identify)

Date of value:

Current

Future

Past

 

 

______________

Definitions Given For:

Value Sought

Interest To Be Valued

Interests Valued:

Fee Simple

Leased Interest

 

Market Rent

Other (identify)

 

Easements

Other (identify)

 

 

__________________

 

 

______________

Assumptions and

Standard

Consistent with

Real Estate Valued

Land

Improvements

Limiting Conditions:

 

Valuation Process

 

Ground Lease

Personal Property

 

Third Party

Unreasonable or

 

Other (identify)_______________

 

Report

Excessive

 

Comments:

 

 

 

 

 

 

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

Section II — Property Identification, Ownership and Assessment

Does the report adequately contain or identify:

Yes

No

N/A

 

 

Yes

No N/A

 

Property Location/Address:

Owners of Record

 

Legal Description

History of Ownership

 

 

 

 

Real Estate Tax Information

If Applicable to Subject Property:

 

 

 

 

Assessments, Bonds, etc.

Amount of Purchase Price

$____________

Existence of:

 

 

 

Pending Sales Price

$____________

Deed Restrictions

Asking Price

$____________

Covenants, Conditions, Restrictions

Option Price

$____________

Moratoriums

Other

$____________

Comments:

 

 

 

 

 

 

 

 

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

Section III — Location Analysis

Does the report adequately describe or identify:

Does report:

 

Region

Yes No N/A

Sum up and rate the above area

Yes No N/A

City

Yes No N/A

Identify and discuss important trends

Yes No N/A

Neighborhood

Yes No N/A

Identify nuisances or hazards

Yes No N/A

Comments:

 

 

 

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

Section IV — Property Description

Comment upon the descriptions and analysis of the following:

IMPROVEMENTS:

 

SITE:

 

Adequate description of physical features Yes No

Adequate description of physical featuresYes No

Attention given to:

 

Identification of encumbrances

Yes No

Quality

Yes No

Does the report state adequacy of site for

 

Functional Utility and Appeal

Yes No

existing or proposed use

Yes No

Age

Yes No

Utilities available

Yes No

Condition

Yes No

Special Problems:

 

Hazardous Conditions

Yes No

Flood

Yes No

ZONING:

 

Environmental Hazards, Seismic, Toxic etc.

Statement

Yes No

Other (identify)_________________

Yes No

Definition

Yes No

Comments:

 

 

 

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

Section V — Highest and Best Use

Definition

Yes No

Does property conform to zoning and

 

Components

Yes No

neighborhood

Yes No

Conclusion of Highest and Best Use______________________

Is use legal and physically possible

Yes No

Current zoning ______________________________________

Has the report in this or other sections discussed:

Status zoning change _________________________________

Marketability (supply-demand, market trends,

Status of building permit (if possible construction) ____________

absorption occupancy levels)

Yes No

Does report discuss feasibility/profitability

Yes No

Other (identify) ____________________________________

 

 

Were other studies/reports considered

Yes No

Comments:

 

 

 

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

Copyright © by the National Association of Review Appraisers and Mortgage Underwriters 1224 North Nokomis NE, Alexandria, Minnesota,USA. This formReview Form No. 4002 may be reproduced without written consent, however, the “National Association of Review Appraisers and Mortgage Underwriter’s must be acknowledged and credited.

SECTION VI — Property Valuation

Comment and rate the approaches to value:

 

 

 

 

COST APPROACH:

Satisfactory

Unsatisfactory

DISCOUNTED CASH FLOW ANALYSIS (DCF)

 

Format

 

 

Satisfactory

Unsatisfactory

Adequacy of data

 

Format

Source of costs

 

Adequacy of data and support for:

 

Land value estimate

 

Holding Period

Estimated cost new

 

Growth Rates

Depreciation estimate

 

Discount Rate

SALES COMPARISON APPROACH:

 

Development of Cash Flow Estimates

Format

 

Reversionary Value

Adequacy of data

 

Other Methods of Processing Income

 

Sources of data

 

Stream (Mortgage Equity, Band of

 

Summary of sales table

 

Investments, etc.)

Use of adjustment grid table

RECONCILIATION:

 

 

Comparative analysis of sales

Indicated values are:

 

 

INCOME CAPITALIZATION APPROACH:

 

Cost Approach

$ __________

 

Format

 

Sales Comparison Approach

$ __________

 

Selection of proper capitalization

 

Income Approach

$ __________

 

method

 

DCF Analysis

$ __________

 

Adequacy of data and support for:

 

 

Other (Pending Sale, etc.)

 

 

Comparable Rentals

 

Value Conclusion

 

$ ________

Vacancy and Loss Factor

 

Allocation as Follows:

 

 

Operating History

 

Land

$ __________

 

Rent Roll

 

Improvements

$ __________

 

Income Estimate

 

Personal Property

$ __________

 

Expense Estimate

 

Other

$ __________

 

Net Operating Income

 

Total Value

 

$ ________

Capitalization Rate

 

 

 

 

Comments:

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

Section VII — Other Report Requirements

Does the report contain a certification Yes

No

Does the principal appraiser make

 

 

Is the report co-signed

Yes

No

statement of concurrence with value

 

 

Did the principal appraiser sign the

 

conclusion

Yes

No

report

Yes

No

Does the report contain appraiser(s)

 

 

Did the principal appraiser personally

 

qualifications

Yes

No

inspect subject property

Yes

No

 

 

 

 

 

 

 

 

Section VIII — Final Rating of Appraisal

 

 

 

 

 

 

 

 

 

Acceptable

Unacceptable

 

Acceptable

Unacceptable

Report Format

 

 

Property Valuation:

 

 

Readability and neatness

Feasibility/Profitability

Mathematical accuracy

Market Trends

Exhibits (Photos, Maps, etc.)

Cost Approach

Appraiser’s analytical ability

Sales Comparison Approach

Purpose and function of appraisal

Income Approach

Property identification

DCF

Locational analysis

Reconciliation

Property Description

Date of Appraisal

Site

Overall Rating of Appraisal

 

 

Improvements

 

 

 

Highest and Best Use

 

 

 

Brief Comments on Unacceptable Ratings:

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

Section IX — Reviewer’s Conclusions — Recommendations

Scope of Review:

 

 

If reviewer does not concur with the soundness if conclusion, then

Read report

Yes

No

what is the recommended action:

Interviewed appraiser

Yes

No

Totally reject appraisal

Field Review

Yes

No

Have appraiser rework, revise, update the appraisal

Does the Reviewer concur with

 

 

Have another appraisal prepared by someone else

the soundness of conclusion:

Yes

No

Other

Concluding Comments:

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

______________________________________________________________________________________________________________

Reviewer’s Signature _____________________________________________________________________________________________

Name of Reviewer __________________________________________________________________ Date ________________________

Position ___________________________________________________________________________ Department __________________

Address __________________________________________________________________________ Telephone ___________________

City, State, Zip __________________________________________________________________________________________________

Copyright © by the National Association of Review Appraisers and Mortgage Underwriters P.O. Box 879, Palm Springs, California, 92263 USA. This form

Review Form No. 4002

may be reproduced without written consent, however, the “National Association of Review Appraisers and Mortgage Underwriter’s must be acknowledged and credited.

 

How to Edit Review Form Commercial Appraisal Online for Free

The PDF editor makes it easy to fill out the commercial real estate appraisal review form file. It will be easy to build the document right away by following these basic steps.

Step 1: You can choose the orange "Get Form Now" button at the top of the web page.

Step 2: You'll notice all of the functions you can undertake on the document when you have accessed the commercial real estate appraisal review form editing page.

The following segments will constitute the PDF form that you will be creating:

filling in real estate appraisal review form part 1

You need to note the details within the section Comments, Region, City, Neighborhood Yes, NoN, AYes, NoN, AYes, NoN, A Yes, NoN, AYes, NoN, AYes, NoN, A Comments, Section, IV, Property, Description Yes, NoYes, No IMPROVEMENTS, and Yes, NoYes, NoYes, NoYes, NoYes, No

stage 2 to finishing real estate appraisal review form

The software will demand you to insert specific fundamental details to easily fill in the field Yes, NoYes, No Yes, No ZONING, Statement, Definition YesNoYesNoYesNoYes, NoYes, No Yes, NoYes, No Comments, Section, V, Highest, and, Best, Use Yes, NoYes, No Yes, NoYes, No Yes, No Yes, No and Comments.

Filling in real estate appraisal review form stage 3

You need to define the rights and responsibilities of each side in space Comments, and Review, Form, No

real estate appraisal review form Comments, and ReviewFormNo blanks to insert

End by reviewing these sections and filling them in correspondingly: Satisfactory, Unsatisfactory, DISCOUNTED, CASH, FLOW, ANALYSIS, DC, F SALES, COMPARISON, APPROACH INCOME, CAPITALIZATION, APPROACH Format, Satisfactory, Unsatisfactory, RECONCILIATION, Indicated, values, are Allocation, as, Follows and Total, Value

Filling out real estate appraisal review form step 5

Step 3: Click the Done button to save your document. Now it is ready for upload to your gadget.

Step 4: To prevent yourself from possible upcoming complications, you need to get up to a pair of copies of each separate document.

Watch Review Form Commercial Appraisal Video Instruction

If you believe this page is infringing on your copyright, please familiarize yourself with and follow our DMCA notice and takedown process - click here to proceed .