Section 01
Summary
Appendix F-1, page 26
The Summary section provides a synopsis of key information from the URAR as a quick reference, including actions to be taken into consideration by the reviewer. This section is not a substitute for reading the entire appraisal. For greater detail and understanding, refer to the applicable section, which is indicated in the Origin of Information (Section)" column in this chapter.
Note: The information in this section redisplays from other sections, and the "Origin of Information (Section)" column in this chapter shows the original location.
Summary
| Report Field ID | Report Label | When Displayed in Summary Section | Allowable Answers / Format | Origin of Information (Section) | Definition / Additional Guidance |
|---|---|---|---|---|---|
| 1.000 | N/A | Always displays | Free-form, in format that conforms to address standards in USPS Publication 28, Postal Addressing Standards | Subject Property - Property Address 3.000 |
Property Address: Physical address of the property being appraised. |
| 1.001 | Opinion of Market Value | Always displays | Dollar amount | Reconciliation - Opinion of Market Value 26.007 |
Market value as defined in the report. |
| 1.085 | (Cooperative Interest) | Displays next to Opinion of Market Value when the property is in a cooperative or condop | N/A | Reconciliation - (Cooperative Interest) 26.074 |
|
| 1.009 | Market Value Condition | Always displays | Displays one or more allowable answers from the Definition / Additional Guidance column | Reconciliation - Market Value Condition 26.009 |
- As Is - Subject to Completion Per Plans - Subject to Inspection - Subject to Repair |
| 1.002 | Final Value Condition Statement | Displays when Market Value Condition is not As Is | N/A | Reconciliation - Final Value Condition Statement 26.013 |
Variations of this sentence display based on the value condition(s) provided in Market Value Condition. |
| 1.003 | Effective Date of Appraisal | Always displays | mm/dd/yyyy | Reconciliation - Effective Date of Appraisal 26.011 |
The date to which the appraiser's analyses, opinions, and conclusions apply; also referred to as date of value. Reference published guidelines by the GSEs, government agencies, or other identified secondary market participants for specific guidance. |
| 1.004 | Assignment Reason | Always displays | Displays an allowable answer from the Definition / Additional Guidance column | Assignment Information - Assignment Reason 2.000 |
- Construction - Deed in Lieu - Home Equity - Loan Modification - Portfolio Evaluation - Preforeclosure - Purchase - Refinance - REO - Short Sale - Other (Describe) |
| 1.005 | Borrower Name | If applicable | Free-form Repeatable |
Assignment Information - Borrower Name 2.001 |
Notes: - The borrower can be a person or a legal entity. - For VA appraisals, reference the appropriate government agency appraisal guidelines. |
| 1.006 | Current Owner of Public Record | Always displays | Free-form Repeatable |
Assignment Information - Current Owner of Public Record 2.002 |
Note: The current owner can be a person or a legal entity. |
| 1.007 | Contract Price | When Sales Contract Information Analyzed is Yes | Dollar amount | Sales Contract - Contract Price 20.004 |
The dollar amount stated in the sales contract. |
| 1.008 | Listing Status | Always displays | Displays an allowable answer from the Definition / Additional Guidance column | Subject Listing Information - Current or Relevant Listings 19.000 - Listing Status 19.002 for most recent listing |
- None (Current or Relevant Listings is No) - Active - Off Market (previously in MLS) - Pending |
| 1.010 | Property Valuation Method | Always displays | Displays an allowable answer from the Definition / Additional Guidance column | Assignment Information - Property Valuation Method 2.004 |
- Traditional Appraisal - Hybrid Appraisal - Desktop Appraisal - Exterior Appraisal |
| 1.011 | Appraiser Name | Always displays | Free-form | Assignment Information - Appraiser - Name 2.017 |
The full name of the appraiser, as it appears on the Appraisal Subcommittee (ASC) National Registry. |
Property Description#
Summary: Property Description
| Report Field ID | Report Label | When Displayed in Summary Section | Allowable Answers / Format | Origin of Information (Section) | Definition / Additional Guidance |
|---|---|---|---|---|---|
| 1.012 | Construction Method | When Structure Design is not High-rise, Mid-rise, or Low-rise | Displays one or more allowable answers from the Definition / Additional Guidance column | Dwelling Exterior, for each dwelling - Construction Method 8.011 |
- Container - Manufactured - Modular - On-Frame Modular - Site Built - 3D Technology - Other (Describe) If there are multiple dwellings, or multiple Construction Methods for a dwelling, all display here. |
| 1.013 | Attachment Type | Always displays | Attached or Detached | Subject Property - Attachment Type 3.004 |
Type of attachment to a neighboring property. |
| 1.014 | Structure Design | When Attachment Type is Attached | Displays an allowable answer from the Definition / Additional Guidance column | Dwelling Exterior - Structure Design 8.002 |
- High-rise - Mid-rise - Low-rise - Rowhouse / Townhouse - Semi-Detached - Other (Describe) |
| 1.015 | Planned Unit Development (PUD) | Checkbox always displays | Yes | No | Subject Property - Property in a PUD 3.010 |
|
| 1.016 1.017 1.018 |
Condominium Cooperative Condop |
Checkboxes always display | Displays an allowable answer from the Definition / Additional Guidance column | Subject Property 3.011 3.012 3.013 - Property in a Project - Project Legal Structure |
Checkboxes are checked based on: Property in a Project (Does not display) - Yes (the property is in a condominium, cooperative, or condop) - No (the property is not in a condominium, cooperative, or condop) Project Legal Structure indicates the type of project the property is in. |
| 1.019 | Observed Project Deficiencies | Checkbox displays when the property is in a condominium, cooperative, or condop | Yes | No | Project Information - Observed Deficiencies 18.014 |
The appraiser must observe the overall project. - If checked Yes, there are deficiencies, deferred maintenance, and / or critical repairs that impact the value and / or marketability of the subject property. |
| 1.020 | Subject Site Owned in Common | Checkbox always displays | Yes | No | Subject Property - Site Owned in Common 3.015 |
Indicates whether land associated with the property is owned by an association. - Yes (the land supporting the dwelling is commonly owned through an association such as a condo, co-op or condop). - No (the homeowner owns or leases the land sole and separate from another entity). |
| 1.021 | Units Excluding ADUs | Always displays | Number | Subject Property - Units Excluding ADUs 3.005 |
Number of separate living units on the subject property, not counting any ADUs. ADUs are entered in a separate field (3.006) but are considered in the overall unit count. Examples: - A single-family property (with or without an ADU) is reported as 1 unit in this field. - A three-unit property (with or without an ADU) is reported as 3 units in this field. |
| 1.022 | Accessory Dwelling Units | Always displays | Number | Subject Property - Number of ADUs on Subject Property 3.006 |
ADUs may be in the dwelling, attached to the dwelling, or associated with a separate building (outbuilding). If 0, there are no ADUs on the property. |
| 1.023 | Property Rights Appraised | When the property is not in a cooperative | Displays an allowable answer from the Definition / Additional Guidance column | Subject Property - Property Rights Appraised 3.019 |
- Fee Simple - Leasehold - Other (Describe) |
| 1.024 | Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? | Checkbox always displays | Yes | No | Highest and Best Use - Highest and Best Use 16.004 |
Highest and Best Use After consideration of all four tests, indicates whether the present or proposed use is the highest and best use of the site. |
| 1.025 | Property Restriction | When there are property restrictions | Displays an allowable answer from the Definition / Additional Guidance column | Site - Property Restriction 4.051 |
- Age - Historic Preservation - Income - Land Use - Rental - Sale Price - Other (Describe) |
| 1.026 | Encroachment | When there are encroachments | Displays an allowable answer from the Definition / Additional Guidance column | Site - Encroachment 4.059 |
- Building - Driveway - Fence - Overhang - Other (Describe) |
| 1.027 | Zoning Compliance | Always displays | Displays an allowable answer from the Definition / Additional Guidance column | Site - Zoning Compliance 4.008 |
- Illegal - Legal - Legal Nonconforming - No Zoning |
| 1.028 | HUD Data Plate Attached | When the Manufactured Home section is included in the report | Yes | No | Manufactured Home - HUD Data Plate Attached 9.010 |
Note: If there is more than one manufactured home on the property: - Yes (the HUD Data Plate is attached for all manufactured homes). - No (the HUD Data Plate is not attached for at least one manufactured home). |
| 1.029 | HUD Label Present for All Sections | When the Manufactured Home section is included in the report | Yes | No | Manufactured Home - Label Present for all Sections 9.016 |
- Yes (the HUD Label is attached for all sections). - No (the HUD Label is missing for at least one of the sections). |
| 1.030 | Overall Quality | Always displays | Q1 to Q6 | Overall Quality and Condition - Overall Quality 15.000 |
Reference Appendix 2: Condition and Quality Rating Definitions for definitions. |
| 1.031 | Overall Condition | Always displays | C1 to C6 | Overall Quality and Condition - Overall Condition 15.005 |
Reference Appendix 2: Condition and Quality Rating Definitions for definitions. |
| See iGuide | N/A | Always displays | Photo | Property Photo Photo of the subject property, typically the front. |
Apparent Defects, Damages, Deficiencies Requiring Action#
All defects, damages, and deficiencies requiring completion, inspection, or repair are redisplayed in the Summary section, along with the estimated cost to repair when applicable. Each defect, damage, or deficiency is associated with the most appropriate section.
- Site
- Dwelling Exterior (for each dwelling)
- Outbuilding (for each outbuilding)
- Unit Interior (for each unit or ADU)
- Vehicle Storage
- Subject Property Amenities
If there are no defects, damages, or deficiencies for the appraisal, "None" displays, and the Apparent Defects, Damages, Deficiencies table does not display.
Summary: Apparent Defects, Damages, Deficiencies Requiring Action
| Report Field ID | Report Label | When to Include | Allowable Answers / Format | Definition / Additional Guidance |
|---|---|---|---|---|
| 1.032 | N/A | Displays when there are defects, damages, or deficiencies for the property | N/A | The items listed below represent the As Is condition as of the effective date of this report |
If there are defects, damages, or deficiencies for the appraisal, but none of them require action, this text displays, and the Apparent Defects, Damages, Deficiencies table does not display.
Summary: Apparent Defects, Damages, Deficiencies Requiring Action
| Report Field ID | Report Label | When to Include | Allowable Answers / Format | Definition / Additional Guidance |
|---|---|---|---|---|
| 1.084 | N/A | Displays when there are no defects, damages, or deficiencies requiring action | N/A | There are no apparent defects, damages or deficiencies requiring action. For details, reference the 'Reconciliation' section. |
Information That May Display in Gray Bars#
The applicable URAR sections display as gray bars in the Apparent Defects, Damages, Deficiencies Requiring Action table.
Summary: Apparent Defects, Damages, Deficiencies Requiring Action
| Report Field ID | Report Label | Origin of Information (Section) | Definition / Additional Guidance |
|---|---|---|---|
| 1.039 1.046 |
N/A | Dwelling Exterior - Structure Identifier 8.000 Unit Interior - Structure Identifier 10.001 |
Structure Identifier: An identifier (building name) created by the appraiser to differentiate among multiple dwellings on the property. Examples: Building 1, Building 2, Front, Rear Redisplays if applicable from the original section. |
| 1.047 1.062 |
N/A | Unit Interior - Unit Identifier 10.002 |
Unit Identifier: An identifier assigned by the appraiser that differentiates between multiple units on the property. Examples: Unit 1, Unit 2, Primary Dwelling, ADU Redisplays if applicable from the original section. |
| 1.054 1.061 |
N/A | Outbuilding - Outbuilding Type 12.001 |
Redisplays if applicable from the original section. |
Information About each Defect, Damage, or Deficiency#
Only those defects, damages, or deficiencies requiring completion, inspection, or repair redisplay in the Summary section.
Summary: Apparent Defects, Damages, Deficiencies Requiring Action
| Report Field ID | Report Label | Origin of Information by Section | Definition / Additional Guidance |
|---|---|---|---|
| 1.033 1.040 1.048 1.055 1.063 |
Feature | - Site 4.100 - Dwelling Exterior 8.056 - Outbuilding 12.020 - Unit Interior 10.056 |
As previously entered in the original section: - Exterior Walls and Trim - Flooring - Foundation - Mechanical System - Roof - Walls and Ceiling - Windows - Other (Describe) |
| 1.069 | Feature | Vehicle Storage - Vehicle Storage Type 13.005 |
As previously entered in the original section. |
| 1.075 | Feature | Subject Property Amenities - Amenity Type 14.009 |
As previously entered in the original section. |
| 1.034 1.041 1.049 1.056 1.064 1.070 1.076 |
Location | - Site 4.101 - Dwelling Exterior 8.057 - Outbuilding 12.021 - Unit Interior 10.057 - Vehicle Storage 13.006 - Subject Property Amenities 14.007 |
As previously entered in the original section: - Full Bathroom - Half Bathroom - Kitchen - Other (Describe) |
| 1.035 1.042 1.050 1.057 1.065 1.071 1.077 |
Description | - Site 4.102 - Dwelling Exterior 8.058 - Outbuilding 12.022 - Unit Interior 10.058 - Vehicle Storage 13.007 - Subject Property Amenities 14.008 |
Description of the defect, damage, or deficiency, as previously entered in the original section. |
| 1.036 1.043 1.051 1.058 1.066 1.072 1.078 |
Affects Soundness or Structural Integrity | - Site 4.103 - Dwelling Exterior 8.059 - Outbuilding 12.023 - Unit Interior 10.059 - Vehicle Storage 13.008 - Subject Property Amenities 14.009 |
Indicates whether the defect, damage, or deficiency affects the soundness and / or structural integrity of the improvement, as previously entered in the original section. |
| 1.037 1.044 1.052 1.059 1.067 1.073 1.079 |
Recommended Action | - Site 4.104 - Dwelling Exterior 8.060 - Outbuilding 12.024 - Unit Interior 10.060 - Vehicle Storage 13.009 - Subject Property Amenities 14.010 |
The recommended action for the defect, damage, or deficiency, as previously entered in the original section: - Completion - Inspection - Repair (includes replacement) - None (does not require repair, replacement, completion, or inspection - Does not display in the Summary section) Notes: - If Completion, Inspection, or Repair is reported for any defect, damage, or deficiency, the report must be made subject to the resolution of the item (Market Value Condition 1.009 cannot be As Is). - If Repair is selected, the estimated cost to repair may be provided. |
Cost to Repair Reporting Options#
When included, the estimated cost to repair only displays in the Summary and Reconciliation sections. Reference the Reconciliation chapter in this document for details and examples.
- Cost to Repair is not provided, or
- Cost to Repair is itemized (1.038-1.080) with a total at the bottom of the table (1.081), or
- Cost to Repair is provided as a total only (1.083).
As Is Overall Condition Rating#
Summary: As Is Overall Condition Rating
| Report Field ID | Report Label | When to Include | Allowable Answers / Format | Definition / Additional Guidance |
|---|---|---|---|---|
| 1.082 | As Is Overall Condition Rating | Required if New Construction is No, and Market Value Condition is Subject to Completion Per Plans or Subject to Repair | C1 to C6 | The As Is Overall Condition Rating reflects the property's current condition if Market Value Condition 1.009 is any of the following: - Subject to Completion Per Plans - Subject to Repair Reference Appendix 2: Condition and Quality Rating Definitions for definitions. |
| 1.082 | As Is Overall Condition Rating | Displays when As Is Overall Condition Rating displays | N/A | Existing condition of the property as of the effective date of this appraisal, excluding all required repairs, alterations, or inspections |