Test Appraisal Form - FNMA 1004C Manufactured Home Appraisal Report (Test Form 1004C) Use of Test Form 1004C: The appraiser uses this form when reporting appraisals on manufactured homes. The use of Form 1004C will help to ensure that the appraiser inspected, considered, and/or reported (as applicable) the necessary information for the property valuation and underwriting of a manufactured home. The information specific to the appraisal of a manufactured home will help the lender better understand the factors that may affect the value and marketability opinions and conclusions provided by the appraiser. Fannie Mae will continue to require market-based property valuations for manufactured homes demonstrated by a well-developed sales comparison approach to value. This means that the appraiser must develop and report in a concise format an adequately supported opinion of market value based on the sales comparison approach to value and further supported by the cost approach to value. The sales comparison and cost approaches to value are complementary for the valuation of manufactured housing and should support the final value conclusion. This form must be printed on legal size paper using portrait format. Instructions: This form is completed in its entirety by the appraiser. The lender should retain the original of the completed form, and the appraiser should retain a copy. | 
