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Using the Small Residential Income Property Appraisal Report (Fannie Mae Form 1025/Freddie Mac Form 72) examines the new report form for small income-producing residential properties in detail, providing line-by-line instructions for each required entry. Novice and experienced appraisers alike can learn about the characteristics of 2- to 4-unit properties and the specific challenges that appraisers of these properties face. This practical guide also includes case studies that help illustrate a variety of situations encountered by that appraisers of small residential properties across the United States.

 

Using the Small Residential Income Property Appraisal Report is the second in a series of three books that the Appraisal Institute has developed to offer appraisers guidance in performing residential appraisals. Using Residential Appraisal Report Forms: URAR 2005 (Form 1004) and Exterior Inspection (Form 2055) was published in 2005 to address the challenges of appraising single-unit residences. The third book in the series, which will be published in October, will address the issues involved in appraising individual condominium units.

 

About the Author
Mark R. Rattermann, MAI, SRA, is a senior partner with REsource, LLC, a real estate appraisal firm in Indianapolis. He is active in the Appraisal Institute education program and teaches at various real estate schools, trade associations, and community colleges in Indiana. He has written articles for The Appraisal Journal and is the author of Residential Sales Comparison Approach: Deriving, Documenting, and Defending Your Value Opinion.