Ready Mortgage Corp.
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Appraisal Requirements:



1. Marshall and Swift Guidelines must be used when figuring “cost to cure.”

2. Need URAR indicating value ‘subject to’ repairs

3. Comparable Sales - four COMPS are required

  • No "as is" comps
  • Three of the 4 COMPS must be MLS, no exceptions
  • Three of the 4 COMPS must be within .5 miles of the subject
  • Three of the 4 COMPS must be less than 6 months old
  • If COMPS do not meet the within .5-miles or less than 6 month guideline, the appraiser must explain in the addendum the reason for going beyond the boundaries/timeline requested
  • All COMPS must be occupied
  • All COMPS must have been funded by recognized national, institutional lenders No cash, owner-financed or local bank-financed sales.
  • No comp is to be more than 1.0 miles away from the subject
4. Photos required

  • Normal subject exterior photos (front, back and all sides)
  • The immediate house to the left and right of the subject
  • Photos of every room of interior of house (7 rooms = 7 photos)
  • Every noted repair needed
5. Need separate repair addendum page itemizing repairs and amounts to complete repairs

6. Email full report to shanna@readymort.com