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Fannie mae 1004p Form: What You Should Know

It provides a comprehensive view of a property with the most current information on both the internal and external aspects. It has three different sections:  • Summary • Summary and Statement of Assumptions and Restricting • Summary of Assumptions, Statement of Assumptions and Restricting.  The two forms are available on-line or as a complete package that includes the first two. The forms are self-contained with no requirement that a third party, such as an independent property appraiser, is consulted. The form provides a unique and comprehensive view of the subject property. In addition to being able to view and interactively compute the values, users will be able to see a property's characteristics by the type of property, age, grade, size and condition. For owners of multiple properties, the form allows comparison of similar properties (by property type and grade) to see how they compare. The form contains the following areas of information: The size and area of the property The location: location on the site, or on-land with the property (including the boundaries and condition of boundaries) The structure on the scene The condition of the site/property The quality of the surface finish (whether the property is in good condition or in need of improvement) and landscaping. The amount of renovation work The date of construction (including type of construction, materials and other factors) The type of occupancy (single family, attached, or mixed use) The number of occupants (including the number of rooms) If there is no written description of the structure, there is an image of the structure that includes the foundation and the structural integrity (including whether it is a traditional reinforced-concrete or a prefabricated structure) If there is no written description of the structural foundation, the structure is described by the type and extent of any concrete foundations The location and type of any utilities, including water, gas, electricity and the type and extent of sewer and drainage If there is no written description of plumbing that may be associated with the premises, there are multiple images of each major component of water and waste. The type of windows and doors that are visible (including style, color, and quantity; including glass and window openings) The type of windows and doors that are closed and which are visible, including the size and type of windows and door frames and linnets, skylights, shades and blinds.

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