Real Estate Comps

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Uniform Residential Appraisal Report File No. The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.

Property Address City State Zip Code

Borrower Owner of Public Record County

Legal Description

Assessor's Parcel # Tax Year R.E. Taxes $

Neighborhood Name Map Reference Census Tract

Occupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per month

Property Rights Appraised Fee Simple Leasehold Other (describe)

Assignment Type Purchase Transaction Refinance Transaction Other (describe)

Lender/Client Address

Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes No

Report data source(s) used, offering price(s), and date(s).

S U

B J

E C

I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not performed.

Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)

Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes No

If Yes, report the total dollar amount and describe the items to be paid.C O

N T

R A

C T

Neighborhood Characteristics One-Unit Housing Trends One-Unit Housing Present Land Use %

Note: Race and the racial composition of the neighborhood are not appraisal factors.

Location Urban Suburban Rural Property Values Increasing Stable Declining PRICE AGE One-Unit %

Built-Up Over 75% 25-75% Under 25% Demand/Supply Shortage In Balance Over Supply $(000) (yrs) 2-4 Unit %

Growth Rapid Stable Slow Marketing Time Under 3 mths 3-6 mths Over 6 mths Low Multi-Family %

Neighborhood Boundaries High Commercial %

Pred. Other %

Neighborhood Description

Market Conditions (including support for the above conclusions)

N E

IG H

B O

R H

O O

Dimensions Area Shape View

Specific Zoning Classification Zoning Description

Zoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)

Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe.

Utilities Public Other (describe) Public Other (describe) Off-site Improvements—Type Public Private

Electricity Water Street

Gas Sanitary Sewer Alley

FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date

Are the utilities and off-site improvements typical for the market area? Yes No If No, describe.

Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe.

S IT

GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials/condition INTERIOR materials/condition

Units One One with Accessory Unit Concrete Slab Crawl Space Foundation Walls Floors

# of Stories Full Basement Partial Basement Exterior Walls Walls

Type Det. Att. S-Det./End Unit Basement Area sq. ft. Roof Surface Trim/Finish

Existing Proposed Under Const. Basement Finish % Gutters & Downspouts Bath Floor

Design (Style) Outside Entry/Exit Sump Pump Window Type Bath Wainscot

Year Built Evidence of Infestation Storm Sash/Insulated Car Storage None

Effective Age (Yrs) Dampness Settlement Screens Driveway # of Cars

Attic None Heating FWA HWBB Radiant Amenities WoodStove(s) # Driveway Surface

Drop Stair Stairs Other Fuel Fireplace(s) # Fence Garage # of Cars

Floor Scuttle Cooling Central Air Conditioning Patio/Deck Porch Carport # of Cars

Finished Heated Individual Other Pool Other Att. Det. Built-in

Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)

Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade

Additional features (special energy efficient items, etc.).

Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe.

Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe.

IM P

R O

V E

M E

N T

Page 1 of 6 Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005Produced using ACI software, 800.234.8727 www.aciweb.com

1004_05UAD 09082011 UAD Version 9/2011

EXAMPLE

The subject has not been offered in the past 12 months prior to the effective date of this

appraisal. Sources include Multiple Listing Services and owner where applicable.

1234 Fake Loans Way Suite 101, Fakeville, CA 91234Fake Mortgage Company

0.000.00X

109.03239-Z7Fakeville Square

1,5852012085-0035-001-0000

Fakeville Square 16 LOT 84

FakeramentoVictor FakeVictor Fake

91234-1234CAFakeville1234 Example Report Way

$0;;

This is where the appraiser should discuss the neighborhood real estate market

and at the least support the "One-Unit Housing Trends" listed above (direction of property values, demand/supply and

marketing time). Does it seem like the appraiser understands the neighborhood market?

See Attached Addendum under "NEIGHBORHOOD DESCRIPTION"

5Vacant

167

303

The neighborhood boundaries should be listed here. If they are not

correct, the comps might not be correct.

There are no

apparent easements or encroachments and other apparent adverse conditions noted except for normal utilities. The appraiser did not receive a Title report from

the client/lender and is therefore not respons ble for information contained within. The deed was not reviewed and apparent conditions were considered and noted

where applicable; Properties in the subject's neighborhood are similar in size, topography and utility. No adverse conditions noted.

Flood Information Taken from Tax Records (Realist)X

07/06/19980607720210EXX

None

XAsphalt

5 dwellings units per gross acre of landRD5

N;Res;ResMostly Rectangular7203 sfSee Attached Plat Map

C4;No updates in the prior 15 years;This is the

section of the appraisal report where the appraiser will explain the condition of the subject property and any upgrades. Did

the appraiser adequately describe the house? This is important to ensure the appraiser considers all the upgrades (or lack

thereof) in the final value. Also, make sure to look at the bed/bath count and living area. Does it seem accurate?

Dual Pane Windows, Fireplace, CH&A, Whole House Fan, Ceiling fans throughout.

1,4652.036

XXXX

Concrete

Fiberglass/Tile/Avg

Vinyl/Tile/Avg

Painted Wd/Avg

Sheetrock/Avg

Carpet/Tile/Avg

NoneNone

ConcreteXPatioX

PerimeterX0

Yes/Avg

N/A

Dual Pane/Avg

Metal/Avg

Comp Shingle/Avg

Vinyl Siding/Avg

Concrete/Avg

GasCentralX

1973

Ranch

Uniform Residential Appraisal Report File No.

A D

D IT

IO N

A L

C O

M M

E N

T S

COST APPROACH TO VALUE (not required by Fannie Mae)

Provide adequate information for the lender/client to replicate the below cost figures and calculations.

Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)

ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW

Source of cost data

Quality rating from cost service Effective date of cost data

Comments on Cost Approach (gross living area calculations, depreciation, etc.)

Estimated Remaining Economic Life (HUD and VA only) Years

OPINION OF SITE VALUE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $

Dwelling Sq. Ft. @ $ . . . . . . . . . . . . = $

Sq. Ft. @ $ . . . . . . . . . . . . = $

Garage/Carport Sq. Ft. @ $ . . . . . . . . . . . . = $

Total Estimate of Cost-New . . . . . . . . . . . . = $

Less Physical Functional External

Depreciation = $ ( )

Depreciated Cost of Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $

"As-is" Value of Site Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $

INDICATED VALUE BY COST APPROACH . . . . . . . . . . . . . . . . . . . . . . = $

C O

S T

A P

P R

O A

C H

INCOME APPROACH TO VALUE (not required by Fannie Mae)

Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income Approach

Summary of Income Approach (including support for market rent and GRM)

IN C

O M

PROJECT INFORMATION FOR PUDs (if applicable)

Is the developer/builder in control of the Homeowners' Association (HOA)? Yes No Unit type(s) Detached Attached

Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.

Legal name of project

Total number of phases Total number of units Total number of units sold

Total number of units rented Total number of units for sale Data source(s)

Was the project created by the conversion of an existing building(s) into a PUD? Yes No If Yes, date of conversion.

Does the project contain any multi-dwelling units? Yes No Data source(s)

Are the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion.

Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options.

Describe common elements and recreational facilities.

P U

D I

N F

O R

M A

T IO

Page 3 of 6 Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005Produced using ACI software, 800.234.8727 www.aciweb.com

1004_05UAD 09082011 UAD Version 9/2011

EXAMPLE

See Attached Addendum.

N/A

0$0

N/A

N/A380

N/A

N/A1,465

N/A

N/AN/A

N/A

The Cost Approach was not developed as it was

deemed neither applicable nor meaningful for this appraisal assignment by the appraiser because of its lack of reliability for

determining market value. The Cost Approach was not required in this appraisal assignment in order to determine a credible opinion of

market value.

The income approach was not developed due to the lack of sufficient rental data

in this mainly single family residential neighborhood.

000

N/A

N/AN/AN/A

N/A

Uniform Residential Appraisal Report File No.

This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project.

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser’s continuing education or membership in an appraisal organization, are permitted.

SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report.

INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction.

INTENDED USER: The intended user of this appraisal report is the lender/client.

DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale.

*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser’s certification in this report is subject to the following assumptions and limiting conditions:

1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title.

2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser’s determination of its size.

3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.

4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law.

5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property.

6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner.

Page 4 of 6 Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005Produced using ACI software, 800.234.8727 www.aciweb.com

1004_05UAD 09082011 UAD Version 9/2011

EXAMPLE

Uniform Residential Appraisal Report File No.

APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:

1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report.

2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property.

3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared.

4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report.

5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.

6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report.

7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.

8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land.

9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales.

10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property.

11. I have knowledge and experience in appraising this type of property in this market area.

12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located.

13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct.

14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property.

15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct.

16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report.

17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.

18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application).

19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it.

20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report.

21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser’s or supervisory appraiser’s (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media).

Page 5 of 6 Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005Produced using ACI software, 800.234.8727 www.aciweb.com

1004_05UAD 09082011 UAD Version 9/2011

EXAMPLE

Uniform Appraisal Dataset Definitions File No.

Condition Ratings and Definitions

C1 The improvements have been very recently constructed and have not previously been occupied. The entire structure and all components are new and the dwelling features no

physical depreciation.*

*Note: Newly constructed improvements that feature recycled materials and/or components can be considered new dwellings provided that the dwelling is placed on a 100% new

foundation and the recycled materials and the recycled components have been rehabilitated/re-manufactured into like-new condition. Recently constructed improvements that have

not been previously occupied are not considered "new" if they have any significant physical depreciation (i.e., newly constructed dwellings that have been vacant for an extended

period of time without adequate maintenance or upkeep).

C2 The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components are new or have been recently

repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced with components that meet current standards. Dwellings in this category

either are almost new or have been recently completely renovated and are similar in condition to new construction.

C3 The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every major building component, may

be updated or recently rehabilitated. The structure has been well maintained.

C4 The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires

only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and are functionally adequate.

C5 The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs, rehabilitation, or updating. The

functional utility and overall livability is somewhat diminished due to condition, but the dwelling remains useable and functional as a residence.

C6 The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety, soundness, or structural integrity

of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many or most major components.

Quality Ratings and Definitions

Q1 Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Such residences typically are constructed from

detailed architectural plans and specifications and feature an exceptionally high level of workmanship and exceptionally high-grade materials throughout the interior and exterior of the

structure. The design features exceptionally high-quality exterior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and

finishes throughout the dwelling are of exceptionally high quality.

Q2 Dwellings with this quality rating are often custom designed for construction on an individual property owner's site. However, dwellings in this quality grade are also found in

high-quality tract developments featuring residences constructed from individual plans or from highly modified or upgraded plans. The design features detailed, high-quality exterior

ornamentation, high-quality interior refinements, and detail. The workmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.

Q3 Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standard residential tract developments or on

an individual property owner's site. The design includes significant exterior ornamentation and interiors that are well finished. The workmanship exceeds acceptable standards and

many materials and finishes throughout the dwelling have been upgraded from "stock" standards.

Q4 Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plans are utilized and the design includes

adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship, finish, and equipment are of stock or builder grade and may feature some

upgrades.

Q5 Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a plain design using readily available or

basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation and limited interior detail. These dwellings meet minimum building codes and are

constructed with inexpensive, stock materials with limited refinements and upgrades.

Q6 Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings are often built with simple plans or

without plans, often utilizing the lowest quality building materials. Such dwellings are often built or expanded by persons who are professionally unskilled or possess only minimal

construction skills. Electrical, plumbing, and other mechanical systems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or

non-conforming additions to the original structure.

Definitions of Not Updated, Updated, and Remodeled

Not Updated

Little or no updating or modernization. This description includes, but is not limited to, new homes.

Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no major components have been replaced or updated. Those over fifteen

years of age are also considered not updated if the appliances, fixtures, and finishes are predominantly dated. An area that is 'Not Updated' may still be well maintained and fully

functional, and this rating does not necessarily imply deferred maintenance or physical /functional deterioration.

Updated

The area of the home has been modified to meet current market expectations. These modifications are limited in terms of both scope and cost.

An updated area of the home should have an improved look and feel, or functional utility. Changes that constitute updates include refurbishment and/or replacing components to meet

existing market expectations. Updates do not include significant alterations to the existing structure.

Remodeled

Significant finish and/or structural changes have been made that increase utility and appeal through complete replacement and/ or expansion.

A remodeled area reflects fundamental changes that include multiple alterations. These alterations may include some or all of the following: replacement of a major component

(cabinet(s), bathtub, or bathroom tile), relocation of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of square footage).

This would include a complete gutting and rebuild.

Explanation of Bathroom Count

The number of full and half baths is reported by separating the two values by a period. The full bath is represented to the left of the period. The half bath count is represented to the

right of the period. Three-quarter baths are to be counted as a full bath in all cases. Quarter baths (baths that feature only toilet) are not to be included in the bathroom count.

Uniform Appraisal Dataset Definitions Produced using ACI software, 800.234.8727 www.aciweb.com 1004_05UAD 09082011UAD Version 9/2011

EXAMPLE

Uniform Appraisal Dataset Definitions File No.

Abbreviations Used in Data Standardization Text

Abbrev.

AdjPrk

AdjPwr

ArmLth

Cash

CtySky

CtyStr

Comm

Conv

CrtOrd

DOM

Estate

FHA

GlfCse

Glfvw

Ind

Lndfl

LtdSght

Listing

Abbrev.

Mtn

NonArm

BsyRd

Prk

Pstrl

PwrLn

PubTrn

Relo

REO

Res

Short

sqm

Unk

WtrFr

Wtr

Woods

Full Name

Acres

Adjacent to Park

Adjacent to Power Lines

Adverse

Arms Length Sale

Bathroom(s)

Bedroom

Beneficial

Cash

City View Skyline View

City Street View

Commercial Influence

Contracted Date

Conventional

Court Ordered Sale

Days On Market

Expiration Date

Estate Sale

Federal Housing Authority

Golf Course

Golf Course View

Industrial

Interior Only Stairs

Landfill

Limited Sight

Listing

Full Name

Mountain View

Neutral

Non-Arms Length Sale

Busy Road

Other

Park View

Pastoral View

Power Lines

Public Transportation

Recreational (Rec) Room

Relocation Sale

REO Sale

Residential

USDA –Rural Housing

Settlement Date

Short Sale

Square Feet

Square Meters

Unknown

Veterans Administration

Withdrawn Date

Walk Out Basement

Walk Up Basement

Water Frontage

Water View

Woods View

Appropriate Fields

Area, Site

Location

Location & View

Sale or Financing Concessions

Basement & Finished Rooms Below Grade

Location & View

Sale or Financing Concessions

View

Location

Date of Sale/Time

Sale or Financing Concessions

Data Sources

Date of Sale/Time

Sale or Financing Concessions

Location

View

Location & View

Basement & Finished Rooms Below Grade

Location

View

Sale or Financing Concessions

Appropriate Fields

View

Location & View

Sale or Financing Concessions

Location

Basement & Finished Rooms Below Grade

View

Location

Basement & Finished Rooms Below Grade

Sale or Financing Concessions

Location & View

Sale or Financing Concessions

Date of Sale/Time

Sale or Financing Concessions

Area, Site, Basement

Date of Sale/Time

Sale or Financing Concessions

Date of Sale/Time

Basement & Finished Rooms Below Grade

Location

View

Other Appraiser-Defined Abbreviations

Abbrev. Abbrev.Full Name Full NameAppropriate Fields Appropriate Fields

Uniform Appraisal Dataset Definitions Produced using ACI software, 800.234.8727 www.aciweb.com 1004_05UAD 09082011UAD Version 9/2011

EXAMPLE