Problem 1: What are some of the reasons why institutional lenders generally prefer the URAR-form style appraisal report for conducting single-family residence transactions?
Problem 2: The Fannie Mae/Freddie Mac form style appraisal report shown in the text provides for a great detail of information in six pages. Discuss why a narrative style would ever be needed, and provide an example of a type of property that would be appraised using a narrative style of report.