Get Seller's Information for Appraiser provided to Buyer

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INFORMATION FORM FOR APPRAISER Provide Appraisal to (Name and address of Lender, if Selling):Owner Information: Name: Address: City: State: Zip code: Work Phone: Home Phone: Fax: Email: Property Information: Property

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FAQ

What is Form 70 Freddie Mac appraisal?

Form 70 is minimum assessment required for sale to Freddie Mac. Form 2055 interior is minimum assessment required for sale to Freddie Mac.

What is a Form 70?

Freddie Mac Form 70 March 2005. Page 1 of 6. Fannie Mae Form 1004 March 2005. The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.

What is a 1004p?

Fannie also has a name for its new “hybrid” desktop appraisal, the 1004P. This would be a desktop appraisal that is performed by a licensed appraiser after a property data collector has inspected and reported on the property in question.

What is a comparable rent schedule?

Description: The Single Family Comparable Rent Schedule Form 1007 is intended to provide an appraiser with a familiar format to estimate the market rent of a property. Adjustments should be made only for those items of significant difference between the comparables and the subject property.

Does Fannie Mae have property flipping guidelines?

Conventional loan is a loan purchased by Fannie Mae or Freddie Mac, and typically require a minimum of 3-5% down. Fannie & Freddie are extremely vague when it comes to their flipping rule. ... -If seller has not been on title for <90 days, and they are making a gross profit of >20%, then some lenders will not do the loan.

How long is an appraisal good for Freddie Mac?

Most mortgages are drawn up under Fannie Mae and Freddie Mac underwriting guidelines. The validity period for conventional loan appraisal reports is four months, or 120 days, for existing homes. Proposed constructions or new home appraisals are good for up to 12 months.

How long is an appraisal good for Fannie Mae?

Fannie Mae will allow the use of an origination appraisal for a subsequent transaction if the following requirements are met: The subsequent transaction may only be a Limited Cash-Out Refinance. The appraisal report must not be more than 12 months old on the note date of the subsequent transaction.

How long is a Appraisal good for?

Typically you can expect a home appraisal to remain valid for anywhere between 60 days (two months) and 180 days (six months), with a number of exceptions and variables. Appraisers use comparable sales (recently sold properties with similar characteristics) to form their opinion of value.

Can an appraisal be reassigned to another lender?

Transfer of Appraisals Yes. A lender may accept an appraisal from a different lender if that appraisal complies with AIR. In this scenario, since Lender A is the original lender, Lender A must be named as the client on the appraisal report.

Can I reuse an appraisal?

With few exceptions, you can't use the same appraisal at different banks because each lender uses its preferred appraiser or appraisal firm.

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