Test Appraisal Form - FNMA 1004 Uniform Residential Appraisal Report (Test Form 1004) Use of Test Form 1004: The Uniform Residential Appraisal Report (Test Form 1004) is designed for one-unit property appraisals (including individual units in condominium and PUD projects) that are based on an interior and exterior property inspection. Test Form 1004 requires the appraiser to report whether the property has any physical deficiencies or conditions (such as needed repairs and deferred maintenance) and to determine if such conditions affect the livability or soundness or structural integrity of the property. In addition, the appraiser must report whether there are any adverse environmental conditions present in the improvements, on the site, or in the immediate vicinity of the property. The sale history analysis section of the report form has been expanded. In addition, the report form requires the appraiser to identify the effective date of his or her data source(s), identify the current owner of record for the subject property as evidenced by public record data demonstrating the seller's ownership of the property for a purchase (or the borrower's ownership for a refinance transaction), provide information on any recent listing(s) for sale for the subject property, and indicate whether the listing(s) and prior sale(s) of the subject property and prior sale(s) of the comparable sales represent arm's length transactions. All of our standard exhibits that are used to support an appraisal based on an interior and exterior property inspection are also required when using this test form. | 
