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- AKurniadi Realty - Residential & Probate Real Estate3478 Buskirk Ave, Ste 1000, Pleasant Hill, CA · (510) 467-0610
- BCarpenter John - Carpenter Robbins Commercial Real Estate Inc2000 Crow Canyon Pl, #130, San Ramon, CA · (925) 866-1300
- CKurniadi Realty - Residential & Probate Real Estate1300 Clay St, Oakland, CA · (510) 467-0610
The current examination cut-off date to apply is on Monday, July 15, 2024. Check out the California Bureau of Real Estate Appraisers' Fall/Winter 2023 Newsletter! This new edition has information that can be useful to the well-seasoned and newly licensed appraisers. BREA would love to know what you think of our newsletter.
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- 15. Appraisal and Valuation
Definition of Appraisal. To appraise means the act or...
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Appraisal forms can be divided into a few categories, but the main two are residential and commercial forms. Residential forms are used for residential properties, and commercial forms are used for commercial properties. Properties that are considered residential properties include: single-family homes, condominiums, mobile homes, and 2-4 unit prop...
1004 – Single-Family Residential
The 1004 appraisal formis probably the most common and widely used appraisal form for residential appraisers. That is because it is the form for single-family residential properties. The 1004 is used when an appraiser is required to do an interior and exterior inspection. It is typically used when a lender is ordering an appraisal for a refinance or purchase transaction. This is the detached single-family residential form, as well as the townhouse appraisal form. Here is a sample of a Form 10...
1073 – Individual Condominium
The 1073 formis probably the second most commonly used real estate appraisal form for residential properties. This form is used to produce an individual condominium unit appraisal report. The 1073 is similar to the 1004 form in that it was developed for conventional lending purposes. It differs in that it is used to appraise condominiums instead of single-family properties. This form has many of the same fields, but many are condo-specific.
The forms above are always used if when an interior inspection of the property is required. The following two forms are for when the property is only inspected from the exterior, called an “Exterior Only” appraisal. These are however both still considered appraisal forms for conventional loans on residential properties.
This is where it can get confusing. The following two forms can be used for either an interior or exterior inspection. Typically they are used when a full inspection is required.
Now that we have covered the residential appraisal forms, we will get into the commercial ones. There are only a few commercial appraisal forms because most commercial properties are appraised with written reports (Narrative reports). However, if the property is on the smaller side, or the client doesn’t need a full narrative appraisal report, then...
Now, to go a little more in-depth with the General Purpose (GP) forms. The GP forms are a great series of forms that include a special form for each type of property. Often, these forms are used when the client simply wants to know an estimate of the market value of a property. They are also the forms you would want to use for estate-related apprai...
The major appraisal forms are summed up above, but there are some additional forms that serve other purposes. These forms can be ordered as a supplement to the major report or as a standalone report.
Since writing this article, two new forms have been added to the appraiser’s repertoire. These are the 1004 Desktop and 1004 Hybrid appraisal forms. Both of these forms are extremely controversial within the appraisal industry because of their lack of inspection and reliability on third-party data. Lenders love these forms because they can charge l...
- San Rafael, 94901, CA
- (415) 233-6925
Effective January 1, 2010, California law (Chapter 173, Statutes of 2009) required the registration of Appraisal Management Companies (AMC) with the Bureau. This handbook details the procedures for appraiser licensing only and not for AMC registration. Please refer to the Bureau website for AMC laws, regulations, registration forms, and ...
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What is a real estate appraisal?
State of California Bureau of Real Estate Appraisers Revised April 1, 2020 Initial Requirements There are three types of education used to qualify for initial licensing requirements (not including Continuing Education, which is used to renew a license): • Basic (or Required Core Curriculum) education; • California required education; and
