Required Items

Every VA appraisal report must include

·   a properly completed (according to the requirements in this Chapter) appraisal report form on either:

-   Uniform Residential Appraisal Report (URAR), Freddie Mac Form 70/Fannie Mae Form 1004, unless the property is a condominium unit or is income-producing (more than one living unit).

-   Individual Condominium Unit Appraisal Report, Freddie Mac Form 465/Fannie Mae Form 1073, if the property is a condominium unit.

-   Small Residential Income Property Appraisal Report, Freddie Mac Form 72/Fannie Mae Form 1025, if the property has two to four living units.

·   A properly completed Statement of Limiting Conditions and Appraiser’s Certification, Freddie Mac Form 439/Fannie Mae Form 1004B.

·   A location map, showing the location of the subject and each comparable.

·   A building perimeter sketch showing the “footprint” of the improvements.  The calculation for the square foot size of the property must also be shown either here or in the “Comments on Cost Approach” section of the URAR.

·   Photographs (See “Photograph Requirements” below).

·   Any additional appraisal or repair-related information that may be needed to support the fee appraiser’s conclusions.  (The appropriate areas on a computer-generated URAR can be expanded to include such information, provided the standard sequence of the URAR instructions, information entries, etc. does not change and the “Sales Comparison Analysis” does not appear on two separate pages.)

·   The appraisal request (VA Form 26-1805) provided by the appraisal requester.  The appraiser must confirm, and correct if necessary, all information provided by the appraisal requester, which is pertinent to the value estimate.