Product Glossary


1004 Single Family URAR

Fannie Mae Form 1004: Uniform Residential Appraisal Report
This report is used for appraising single family residences. An interior and exterior inspection of the subject is completed. The appraiser provides an opinion of value based upon one of the three valuation methods; Sales Comparison Approach, Cost Approach, or Income Approach.

Report Includes: Complete 1004 appraisal report, floor sketch based upon an exterior measurement, exterior and interior photos of the subject including the street, front view photos of each comparable property, and a location map with the subject and comparables plotted.


1004 Single Family FHA

Fannie Mae Form 1004: Uniform Residential Appraisal for a FHA Loan
This report is used for appraising single family residences when FHA financing is involved. It includes a detailed interior and exterior FHA Appraisal inspection. The appraiser an opinion of value based upon one of the three valuation methods; Sales Comparison Approach, Cost Approach, or Income Approach.


Report Includes:  Complete 1004 appraisal report including a list of required FHA repairs, floor sketch based upon exterior measurements, exterior and interior photos of the subject including the street, front view photos of each comparable property, and a location map with the subject and comparables plotted.


1004C Manufactured Home

Fannie Mae Form 1004C: Manufactured Home Appraisal Report
This report is used for appraising manufactured homes. An interior and exterior inspection of the subject is completed. The appraiser provides an opinion of value based upon one of the three valuation methods; Sales Comparison Approach, Cost Approach, or Income Approach.

Report Includes: Complete 1004C appraisal report, floor sketch based upon an exterior measurement, exterior and interior photos of the subject including the street, front view photos of each comparable property, and a location map with the subject and comparables plotted.


1004D: Appraisal Update and/or Final Inspection Report

Fannie Mae Form 1004D: Appraisal Update and/or Completion Report
This report is used to complete an Appraisal Update, a Final Inspection, or both. The Appraisal Update is used to update the effective date of an existing appraisal report. This report is considered a new appraisal assignment and the appraiser will indicate if any changes have occurred to the subject's market value since the time of the original report. The Final Inspection Report is used for appraisals that were completed "Subject To." This report will verify that the conditions of the original report have been meet. The necessary portions of the subject property will be inspected.

Report Includes:  The Appraisal Update includes the complete appraisal report, exterior and interior photos of the subject as necessary. The Final Inspection includes the completed appraisal report and new photos of the subject, particularly of the area that specifically needed inspection.


1025 Multi-Family

Fannie Mae Form 1025: Small Residential Income Appraisal Report
This report is used for appraising of 2-4 unit residential income properties. It includes an interior and exterior inspection of the subject property. The appraiser provides an opinion of value based upon one of the three valuation methods; Sales Comparison Approach, Cost Approach, or Income Approach.

Report Includes:
Complete 1025 appraisal report, floor sketch based upon an exterior measurement, exterior and interior photos of the subject including the street, front view photos of each comparable property, and a location map with the subject and comparables plotted.


1073 Condominium

Fannie Mae Form 1073: Individual Condominium Unit Appraisal Report
This report is used for appraising Individual Condominium Units. An interior and exterior inspection of the subject is completed. The appraiser provides the Sales Comparison Approach to determine an opinion of value.

Report Includes:  Complete 1073 appraisal report, floor sketch based upon interior and exterior measurements, exterior and interior photos of the subject including the street, front view photos of each comparable property, and a location map with the subject and comparables plotted.


1075 Exterior Condominium

Fannie Mae Form 1075: Exterior-Only Individual Condominium Unit Appraisal Report
This report is used for appraising Individual Condominium Units. An exterior-only inspection of the subject is completed. The appraiser provides the Sales Comparison Approach to determine an opinion of value.

Report Includes: Complete 1075 appraisal report, exterior and street scene photos of the subject, front view photos of each comparable, and a location map with the subject and comparables plotted.


2055 Exterior Single Family

Fannie Mae Form 2055: Exterior-Only Inspection Residential Appraisal Report
This is used for appraising single family residences. An exterior-only inspection of the subject is completed. The appraiser provides an opinion of value based upon either the Sales Comparison Approach, or the Cost Approach.

Report Includes: Complete 2055 appraisal report, exterior and street scene photos of the subject, front view photos of each comparable property, and a location map with the subject and comparables plotted.


2070 Inspection

Freddie Mac Form 2070: Loan Prospector Condition and Marketability Report
This is a property inspection report that identifies if the subject conforms to the neighborhood, notes any physical inadequacies, reveals any adverse physical conditions, or if the subject property does not conform to the neighborhood. An exterior-only inspection of the subject is completed. No opinion of value is provided.

Report Includes:
Complete 2070 appraisal report, exterior and street scene photos of the subject, and a location map with the subject plotted. If an interior inspection is included then interior photos and a sketch may also be provided with this report.


2075 Exterior

Fannie Mae Form 2075: Desktop Underwriter Property Inspection Report
This is a property inspection report that identifies if the subject conforms to the neighborhood, notes any physical inadequacies, reveals any adverse physical conditions, or if the subject property does not conform to the neighborhood. An exterior-only inspection of the subject is completed. No opinion of value is provided.

Report Includes: Complete 2075 appraisal report, exterior and street scene photos of the subject, and a location map with the subject plotted.


2090 Cooperative Interest

Fannie Mae Form 2090: Individual Cooperative Interest Appraisal Report
This report is used for appraising Cooperative Interest properties. An interior and exterior inspection of the subject is completed. The appraiser provides the Sales Comparison Approach to determine an opinion of value.

Report Includes: Complete 2090 appraisal report, floor sketch based upon interior and exterior measurements, exterior and interior photos of the subject including the street, front view photos of each comparable property, and a location map with the subject and comparables plotted.


2095 Exterior Cooperative Interest

Fannie Mae Form 2095: Exterior-Only Individual Cooperative Interest Appraisal Report
This report is used for appraising Cooperative Interest properties. An exterior-only inspection of the subject is completed. The appraiser provides the Sales Comparison Approach to determine an opinion of value.

Report Includes:  Complete 2095 appraisal report, exterior and street scene photos of the subject, front view photos of each comparable property, and a location map with the subject and comparables plotted.

Automated Valuation Model (AVM)

Provides a point of value estimate for a property using mathematical modeling combined with a database. Dart has two types of AVMs available:

  • Home Value Explorer®: Stand-alone AVM product generated by Freddie Mac.
  • Cascading AVM: Cascades through all 20 of the industry's leading AVMs, giving lenders a simple way to select the most suitable AVM for every property.

Broker Price Opinion (BPO)

Estimated sales price of a property as determined by a licensed Realtor. All of Dart's BPOs go through a manual and automated QC check prior to delivery to the client.


Income Statement and Rent Schedule

Fannie Mae Form 1007: Single Family Rent Schedule and Fannie Mae Form 216 Operating Income Statement
Fannie Mae Form 1007 is used to provide an estimated market rent for the subject. Fannie Mae Form 216 is used to estimate the operating income associated with income producing property.

Report Includes: Complete 1007 and 216 reports, and front view photos of each comparable property.


2000 Single Family Field Review (Standard)

Fannie Mae Form 2000: One-Unit Residential Appraisal Field Review Report
This report is designed to analyze an appraisal report completed on a single unit property by a different appraiser. The review appraiser analyzes all information and conclusions from the original report, and completes an exterior-only inspection of the subject and comparable properties. A statement indicating if the value on the original report is supported will be provided.

Report Includes: Complete 2000 Field Review report, exterior and street scene photos of the subject and comparables, and a location map with the subject and comparables plotted.


2000 Single Family Field Review (Enhanced)

Fannie Mae Form 2000: One-Unit Residential Appraisal Field Review Report
This report is designed to analyze an appraisal report completed on a single unit property by a different appraiser. The review appraiser analyzes all information and conclusions from the original report, completes an exterior-only inspection of the subject and comparable properties, and provides two additional comparables. A statement indicating if the value on the original report is supported will be provided.

Report Includes:  Complete 2000 Field Review report, Sale Comparison Grid, exterior and street scene photos of the subject and all comparables, and a location map with the subject and all comparables plotted.


2000A Multi-Family Field Review (Standard)

Fannie Mae Form 2000A: Two-to Four-Unit Residential Appraisal Field Review Report
This report is designed to analyze an appraisal report completed on a Two-to Four-Unit property by a different appraiser. The review appraiser analyzes all information and conclusions from the original report and completes an exterior-only inspection of the subject and comparable properties. A statement indicating if the value on the original report is supported will be provided.

Report Includes:  Complete 2000A Field Review report, exterior and street scene photos of the subject and comparables, and a location map with the subject and comparables plotted.


2000A Multi-Family Field Review (Enhanced)

Fannie Mae Form 2000A: Two-to Four-Unit Residential Appraisal Field Review Report
This report is designed to analyze an appraisal report completed on a Two-to Four-Unit property by a different appraiser. The review appraiser analyzes all information and conclusions from the original report, completes an exterior-only inspection of the subject and comparable properties, and provides two additional comparables. A statement indicating if the value on the original report is supported will be provided.

Report Includes: Complete 2000A Field Review report, Sale Comparison Grid, exterior and street scene photos of the subject and all comparables, and a location map with the subject and comparables plotted.


Desk Review (Standard)

Residential Appraisal Review Short Form
This report is designed to analyze an appraisal report completed by a different appraiser. The review appraiser analyzes all information and conclusions from the original report. No inspection of the subject or comparable properties is completed. A statement indicating if the value on the original report is supported will be provided.

Report Includes:  Complete Desk Review appraisal report.


Desk Review (Enhanced)

Residential Appraisal Review Short Form
This report is designed to report on an appraisal report completed by a different appraisal firm. The appraiser reviews all information and conclusions from the original report and provides two additional comparable sales. No inspection of the subject or comparable properties is completed. A statement indicating if the value on the original report is supported will be provided.

Report Includes: Complete Desk Review appraisal report, Sale Comparison Grid, and a location map with the subject and comparables plotted.


Catastrophic Disaster Area Property Inspection Report

This form is used for inspecting properties that are within areas that have been affected by natural disasters such as earthquake, fire, flood, hurricane, landslide, severe thunderstorm, tornado, volcano, or wildfire. With Dart Appraisal's extensive roster of appraisers nationwide and in Puerto Rico, we can quickly assign a local appraiser to provide a disaster inspection report for all of our Clients within 48 hours of order placement. More in-depth than a Disaster Area Inspection Addendum, a Catastrophic Disaster Area Inspection report provides an assessment of the interior and exterior of the property as well as the surrounding neighborhood.

Report Includes: Catastrophic Disaster Area Inspection (CDAI) report provides an assessment of any impact to the Value and Marketability of the Subject's neighborhood as a result of a natural disaster, as well as a complete set of exterior and interior photos of the subject including the street and address verification. Photos of any damage to the Subject will also be included along with comments on the severity of the damage. The appraiser does not provide an estimate on the effect on value of any damage nor an estimated "Cost to Cure" any damage. No opinion of value is provided.

Desktop Appraisal

Appraisal of limited scope completed by a licensed appraiser, without a physical inspection of the subject property.


Draw Inspection

Appraiser will use lender supplied forms to estimate the amount of work that has being completed on properties that are currently under construction. The report will include items requested by the lender. No opinion of value is provided.


Employee Relocation (ERC)

This form is used for relocation appraisals and was created by the Employee Relocation Council. This form is used to report the appraiser's estimate of the anticipated selling price of a property. If someone is being transferred by an employer and the employer has a relocation program then this is the type of report that they would order.

Executive Value Report (EVR)

Dart's EVR delivers comprehensive property details, including its sales history and a suitability score. Lenders will also receive an understanding of the local market, as well as a three-year value forecast for both the subject property and the market environment. (View a sample EVR) The EVR can also be combined with a Property Condition Report (PCR). Learn more about the EVR here.

Property Condition Report (PCR)

Confirm if the property is in typical condition for the neighborhood, especially after a disaster or long-term vacancy. Dart's PCR includes external photographs, and can be combined with an AVM.

Real Estate Owned (REO)

This report form is designed to report an appraisal of any type of property from one-unit, one-unit with an accessory unit; Two-to Four-Unit; planned unit development (PUD), manufactured home; a condominium unit, or a cooperative project based on an interior and exterior inspection of the subject property.

Report Includes:  Complete 1004 appraisal report, floor sketch based upon an exterior measurement, exterior and interior photos of the subject including the street, front view photos of each comparable property, and a location map with the subject and comparables plotted. The REO Addendum may or may not also be included which provides an itemized cost of repairs as well as an "as-is" and "as-repaired" value. A list of MPR repairs items would be substituted for the REO Addendum if the report is for HUD/FHA.

Streamlined Appraisal

Completed by a credentialed appraiser, this report includes a physical inspection of the property's exterior (which is done by a home inspector), as well as comparable photos and price trend information for the property and local market.

Vacant Land

This report form is designed to report an appraisal of a vacant land or property only. Market value is attributed to the land against corresponding comparable properties.

Report Includes: Complete Vacant Land Appraisal Report, exterior and street scene photos of the subject, front view photos of each comparable property, location map with the subject and comparables plotted, and a Statement of Limiting Conditions.

Dart iQ - Automated QC Review

Run your appraisal reports through an automated data engine, encompassing thousands of business rules, USPAP and industry guidelines. Learn more about Dart iQ here.