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December 22nd, 2011 10:51 AM
What is UAD?  A recently new requirement for real estate appraisals is compliance with FNMA/FHLMC Uniform Appraisal Dataset.  This changes the way an appraiser completes appraisal reports and requires the appraiser to report more specifically the quality and condition of the Subject Property and the comparable sales in the Report.  It requires the Appraiser to report whether the Subject has been updated (particularly the kitchen and the bath), how it was updated, and when it was updated.  For this reason, real estate agents might wish to include this type of information in their MLS descriptions and sellers may wish to be prepared to supply the information when requested.  It's the type of information that a lot of prospective buyers would want, so why not? 

Posted by Charles Johnson on December 22nd, 2011 10:51 AMPost a Comment (0)

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