Part II: Understanding the Uniform Residential Appraisal Report
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 URAR 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. 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 URAR form.