AI Reports™ AI Summary Appraisal Report Form

Appraisal Institute2 Why AI Reports™ ? l Fannie /Freddie Forms are specifically for a mortgage lending transaction. l Prior versions of Fannie/Freddie Forms are also mortgage-specific but were used anyway. l Altered versions of lending forms are awkward at best, misleading at worst. l Only previous option was a narrative … resulting in inconsistent reporting quality.

Appraisal Institute3 Highlights of the AI Reports™ l Highlights of the new report form include: –Single Page Sales Comparison, Cost and Income analyses –Refined and customizable Limiting Conditions –Clear identification of the appraisal company in addition to the specific appraiser(s) – and Web addresses for appraiser and firm

Appraisal Institute4 Highlights of the AI Reports™ l Highlights of the new report form include: –Letter Size Format for a more professional look –Emphasis and clarity of the Scope of Work –Focus on additional data fields relevant to an assignment –Additional comparative data for neighborhood, market and improvements

Appraisal Institute5 AI – The first of a suite of reports l AI Reports™ AI Summary Appraisal Report Form l Assist Residential Appraisers in identifying new appraisal opportunities in: –Replacement cost for insurance purposes –Establish list price for potential sellers –Probate, estate and financial planning –Litigation, property settlement, property division –REO properties –Partial interests Offered to all major residential appraisal software vendors

Appraisal Institute6 Strengths of the AI Reports™ design l More space for narrative descriptions and explanations l Less “interruption” in flow since reader will not have to leaf through unnecessary text pages l Allows more detailed reporting by the appraiser

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8 AI Reports™ Summary Appraisal Report Residential Page 1 of the report puts all vital information in front of the user on a single page.

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Appraisal Institute18 AI Reports™ Summary Appraisal Report Residential Question and Answer