Get the free 1004p form

All right, so you just got your appraisal back, and you're looking at this long big form and wondering what the heck it all says so let's go through it, I won't go through every page because there's a lot of details in this, but I'm going to go through the highlights okay so go ahead and get your appraisal out and let's turn to the first page, so page one is the invoice and a lot of people always like hey do I pay the appraiser what do I do here we've already paid the appraiser it's part of your closing costs, so you do not need to pay the appraiser okay he's just showing you this invoice because that's how much it costs so next page though it's just kind of giving you know the picture of the house, and it's saying hey here's the address we've prepared this appraisal for you the next page has a little more information on it nothing too super important you know obviously it just gives the information at the top here about the address of the home you can see down here towards the middle a little it says you know something one unit housing trends kind of interesting property values are increasing there's a shortage of demand or excuse me shortage of supply you know just kind of some interesting facts about it, you know you scroll to the bottom here just more details about what this unit is you know it has a dishwasher range oven you know what it's made out of stone stucco different things like that right again nothing too important the next page though has pretty much everything you're going to really want okay so you can see right here at the top it says subject okay and that's your property so in this example this is a rental I have that we did an appraisal on not too long ago, and it's showing you the address of the home here, and then it's showing you information about the home that's being appraised okay a lot of people ask as you scroll down here see where it says like total you know bedrooms three baths 21 a lot of people weren't well hey I have more than that like white y-you know they're short there and gross living there is you know more than 1300 square feet but if you can look right here it says above grade okay, so this is anything you know that's that's considered above grade basically not your basement okay, so you can see below here it says basement right and so then it says you also have an additional in this example 672 square feet right, so it's bigger than just the 1300 square feet so to the right then are the top three comparable the appraisers used okay, so you can see they're all in the same subdivision because this is a town home, and so they're all very close by and obviously there's a lot of similar homes right when it's a town home, and you can see there's not a lot of adjustments in these because they're very similar homes and so you know he gave this comparable to the right here a little more value because they have slightly more square footage than mine does but then in this next one he has slightly less square...