Credit secured in whole or in part by real estate of $ or less must be supported by a written market evaluation developed by personnel authorized by the bank’s appraisal policy. The market evaluation must include consideration of at least of the following possible sources of market value support for the property under consideration as collateral. Please mark the information considered in reaching a final estimate and attach to this form the data used plus photographs.
∗ Multiple Listing Service (MLS) data (or other data based source) for comparable properties in the same or comparable neighborhood.
∗ Appraisal (current) of subject property by a taxing authority-may not be sole source.
∗ Comparison of subject property with appraisals in the bank’s real estate files of comparable property.
∗ Comparison of subject property with evaluations from other real estate loan files for comparable property.
∗ Prior appraisal of subject property (prepared within last years).
∗ Letter of opinion of value from a professional, independent (of the transaction) realtor with whom this bank has a well-regarded relationship.
∗ An appraisal prepared by a licensed or certified appraiser-If this option is selected then no additional sources (as per above) are required..
Property
Description
and
Location
Use of
Property
Final Market Evaluation
$
Comments
(Include calculations, comp sales data, etc. on reverse):
Officer Signature ______________________________________ Date
________