Chicago Title Insurance Company

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  • Appraisal Services


    Product Name Description
    1004 Appraisal w/REO Addendum Uniform Residential Appraisal Report with REO Addendum. Two to Four pages including floor plan with exterior dimensions photographs of the subject and comparable properties, location and flood maps and any assumption and limiting condition addenda. Requires licensed or certified appraiser to inspect the property and gather the information for the report.
    1004_05 Residential Appr Rpt Uniform Residential Appraisal Report. Two to Four pages including floor plan with exterior dimensions photographs of the subject and comparable properties, location and flood maps and any assumption and limiting condition addenda. Requires licensed or certified appraiser to inspect the property and gather the information for the report.
    1025 Multi Family (1025&1007&216) 1025 Multi Family (1025&1007&216)
    Amendment An Amendment is product type used when additional information is requested on a previously delivered appraisal. The Amendment is considered a new order and has a specialized product code that applies to all form types. Multiple Amendments can be ordered, each having its own unique transaction ID different from that of the original order.
    Appraisal Update An update to a previously ordered appraisal. The appraiser will re-verify the value of the property that is stated on the appraisal.
    BPO Broker's Price Opinion. Real Estate Brokers provide comparable sales and their estimate of market value based on a 90-120 day market.
    Comp Check Preliminary search of compatible data in the subject market area. Often ordered when property value is uncertain or final appraisal value is crucial.
    Condominium (1073/465) The appraiser's analysis and estimate of value for an individual condominium unit.
    Construction Inspection Rpt Construction Inspection Report
    Desk Review - Complete (2006) Property Inspection Report. An exterior-only property inspections report of the subject property from the street by a licensed or certified appraiser without an estimate of market value for the property.
    Drive By (2065) Qualitative Analysis Appraisal Report. Property value derived by using county records and an exterior inspection. A qualitative sales comparison in terms of value relationships between the comparable properties and the subject property without assigning an estimated dollar value to those relationships. Includes subject photos and comparable photos.
    Drive By w/Ext (2055) Provides a specific market value; Exterior inspection only and comparable sales; certification and statement of limiting conditions; front and street scene photos of the property; comparable photos available at an additional fee; comparable adjustment grid in the Sales Comparison Analysis
    Drive By w/Int (2055) Provides a specific market value; Interior inspection and comparable sales; certification and statement of limiting conditions; front and street scene photos of the property; comparable photos available at an additional fee; comparable adjustment grid in the Sales Comparison Analysis
    Employee Relocation-ERC Six page form utilizing Multiple Listing data regarding subject and comparable properties. Relocation appraisals are used by companies that relocate employees and assume their properties. These companies need to verify the value of the employee's property for future sale.
    Fannie Mae BPO - Ext Fannie Mae Broker Price Opinion is a fully compliant Fannie Mae BPO. Fannie Mae BPOs include three comparable listings/three comparable sales, detailed neighborhood information.
    Fannie Mae BPO - Int Fannie Mae Broker Price Opinion is a fully compliant Fannie Mae BPO. Fannie Mae BPOs include three comparable listings/three comparable sales, detailed neighborhood information.
    Field Inspection Product-FIP A drive-by property inspection of residential real estate, performed by a licensed real estate agent or appraiser. The Field Inspection Product can be coupled with any desktop valuation product to produce a low cost solution for physical verification and condition of an asset. All FIPs includes a photo, property type confirmation and identifies any adverse conditions, which may negatively affect value. The Field Inspection Product does not include a value for the subject property and is not an appraisal. This report will not include an interior inspection of the subject.
    Field Review (2000) A spot-check appraisal report to enable a review appraiser to address the accuracy of the data in the appraisal report being reviewed and to develop an opinion on the appropriateness of the appraisal methods and techniques that the original appraiser used.
    Field Review (2006) A spot-check appraisal report to enable a review appraiser to address the accuracy of the data in the appraisal report being reviewed and to develop an opinion on the appropriateness of the appraisal methods and techniques that the original appraiser used.
    Final Inspection (442) One page form used to complement the original appraisal. Primarily used when properties are appraised prior to the completion of their construction of renovation.
    Freddie Mac 1092 BPO - Ext Freddie Mac 1092 Broker Price Opinion is a fully compliant Freddie Mac 1092. 1092s include detailed neighborhood information, detailed repair estimates, three comparable sales and three listings with code based value adjustments.
    Freddie Mac 1092 BPO - Int Freddie Mac 1092 Broker Price Opinion is a fully compliant Freddie Mac 1092. 1092s include detailed neighborhood information, detailed repair estimates, three comparable sales and three listings with code based value adjustments.
    Full (1004) Uniform Residential Appraisal Report. Two to Four pages including floor plan with exterior dimensions photographs of the subject and comparable properties, location and flood maps and any assumption and limiting condition addenda. Requires licensed or certified appraiser to inspect the property and gather the information for the report.
    LSI Broker Price Opinion (Int) Intended for use in default servicing, portfolio review and pre-foreclosure analysis the BPO-I consists of a full interior inspection completed by a licensed broker or realtor. All data about the interior will come from a data source (i.e. - tax records or MLS) if available, or will be estimated upon internal and external visual inspection if an actual data source is unavailable. Some of the common data provided on the report includes, but is not limited to, a detailed property condition, "AS IS" sales and list prices, "AS Repaired" price, last known sale info, currently listed info, subject data, (3) sold comparables, (3) listed comparables, and an addendum for any other comments. No photos are provided.
    LSI DVR A desktop valuation using the sales comparison approach.
    Misc. Miscellaneous appraisal product, not specified in other products. Please note exact requirements in Special Instructions Screen.
    Property Inspection-Cond&Market (2075) An exterior-only property inspections report of the subject property from the street by a licensed or certified appraiser without an estimate of market value for the property.
    Property Occupancy Verification Property Occupancy Verification is a 48 hour exterior inspection and photo of the subject property completed by a local real estate professional. The Property Occupancy Verification provides verifiable confirmation of the properties occupancy for loan quality control, quality assurance purposes.
    PVR Desktop A limited summary report based on public record and MLS data. Provides general subject and neighborhood information. Includes sales comparison analysis of three recent sales to include GLA, Bedrooms/baths, garage, porches/patio/pools. Provides estimate of subject value based on sales comparison analysis.
    PVR Ext A limited summary report based on public record and MLS data. Provides general subject and neighborhood information. Includes sales comparison analysis of three recent sales to include GLA, Bedrooms/baths, garage, porches/patio/pools. Includes subject property verification. Rates condition, marketability and appeal of subject property and neighborhood. Provides estimate of subject value based on sales comparison analysis and property verification.
    Reverse Mortgage A standard 1004 inspection with the purpose to make a determination on the value of the property for equity purposes where the loan is paid when the borrower moves or is deceased. VC sheets must be included to provide knowledge with respect to repairs.
    Review Conducted by certified appraiser to ensure the validity of the data provided on the original appraisal report (Forms 2000, 2006)
    Tax Assessed Value Value assigned to the property by the local taxing jurisdiction.