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Uniform Appraisal Dataset is a component of the Uniform Mortgage Data Program, an initiative undertaken by Fannie Mae and Freddie Mac (together known as the GSEs) under the direction of the Federal Housing Finance Agency in the United States in order to comprehensively standardize mortgage loan data so that loans may be processed more efficiently.
Site: Data on the size, shape, zoning, and access to utilities as well as FEMA flood-zone information. Contract: Information on the contract for sale is entered here for appraisals in which a change of ownership is about to occur. Subject: Basic information such as the address, legal description, owner's and/or borrower's names. The client is ...
Ad valorem tax value – the value used for taxation purposes, determined by the collection of data through the mass appraisal process. The mass appraisal process applies the data collected through various sources to real property to determine taxable value. [4] Insurable value – the value of real property covered by an insurance policy ...
Home values in the U.S. increased by about $2 trillion in 2023, reaching a whopping total value of $47.5 trillion. For home sellers, that’s good news. However, you shouldn’t assume that the ...
An appraisal is a process used to determine the value of a home. Usually, if the homebuyer is seeking financing for the purchase, the bank or mortgage lender will require the property be appraised.
At the onset of an assignment, an appraiser is obligated to gather certain specified preliminary data about the project, such as the nature of the property to be appraised, the basis of value (e.g. market, investment, impaired, unimpaired), the interests appraised (e.g. fee, partial), important assumptions or hypothetical conditions, and the ...
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