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Property location

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terr

Thread Starter
Freshman Member
Joined
Jan 29, 2002
Professional Status
Certified Residential Appraiser
State
Wisconsin
What is the city suppose to be on the city line at the top of page 1 of the URAR form, the actual city the subject property is located in or the mailing city address which can be far different from what the actual city the property is located in. Where is this written.

This is always a confusion for everyone.

Thanks!
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Mailing address. All other necessary information can be explained after that.

I went through that one a few years ago. Don't know for sure where it's written. Good question. I'll see if I can find anything in writing.
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
I put "actual city (zzz-mail)" on the city line. There are many individual cities that have been absorbed by larger cities, but still have their own city council and police, but get their mail delivered through the large city. What is proper? The actual legal city not the mail delivery city.
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
I do the actual city with the first sentence in my addendum as follows:

"Subject located inside the city limits of Phoenix, the applicable taxing and zoning authority. Subject has a Glendale mailing address". Or Subject located in an unincorporated area of Graham County, the applicable taxing and zoning authority. Subject has a Safford mailing address. In that case the address on the URAR/2055 is Safford (Unincorporated).
 

George W Dodd

Senior Member
Joined
Jul 9, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
I always use the USPS mailing address. Most secondary market lenders want all the documentation to be the same, so the address on the appraisal, title, survey, etc., needs to match.

Can it be done other ways, sure, but mostly likely you will get a lot of call backs from the lender asking for a correction.
 

wyecoyote

Senior Member
Joined
Jan 15, 2002
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Washington
I always go with the physical mailing address of the subject. I did one once where there were three different address. The city said the property was located in the county and the county said vice versa.

Ryan
 

airphoto

Senior Member
Joined
Jan 15, 2002
Professional Status
Retired Appraiser
State
Pennsylvania
Almost posted this same question a week ago. Have always put (for example): t/o John's Town (Glover's Ville PO) if there's room .. followed by remarks in the neighborhood section: Subject in contiguous town of John's Town. City of Glover's Ville also in town of John's Town. All served by Glover's Ville Postal Orifice.

Despite all that verbiage, still had a call from the lender .. **snarl**
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
:lol: :lol:
Bill:
Whadda ya expect?

You actually want the cleint to READ the report beyond the final estimate/reconciliation of value?

You sir have high expectations of the USE and USER of your report :wink:
 

terr

Thread Starter
Freshman Member
Joined
Jan 29, 2002
Professional Status
Certified Residential Appraiser
State
Wisconsin
I can't believe the lender would not want to know where the property is located.


I would do reviews and try and locate the property by the mailing address the one listed on page 1 of the URAR in the databases but of course it could not be found as that was only the mailing address and not where the property is actually loacated.

What say FNMA?


Thanks
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
Section 401 - The Subject Property (6/30/02 Guidelines)

"The first section of our appraisal report forms is used to identify and describe the LOCATION of the subject property-----

The appraiser must identify the subject property by its complete property address and legal description, a post office box number is not acceptable.

So my understanding--Fannie Mae wants both the physical location address AND the mailing address (if it is not a post office box).
 
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