Part II: Understanding the Legacy URAR (1004 Form)

IMPORTANT: This course focuses exclusively on the legacy Uniform Residential Appraisal Report (URAR), also known as Form 1004/70. It does NOT cover the new URAR format or UAD 3.6 requirements.  

This course is relevant to those professionals tasked with reviewing the URAR Mortgage Appraisal Form (1004/70). It is highly recommended that Part I: Understanding the Legacy URAR (Form 1004) is completed as a prerequisite for this course but is not mandatory. This course focuses on the three approaches to value—the Sales Comparison Approach, the Cost Approach, and the Income Approach as relevant to appraising single family residences using the legacy Form 1004/70. The adjustment grid is examined in detail. Additionally, this course covers the 1007/1000 rental schedule and reconciling the approaches to value. This course is enhanced by illuminating the appraisal reporting process as employed by an appraiser in order to properly communicate an appraisal on the legacy URAR form.