An additional living area that is independent of the primary dwelling unit that includes a kitchen, full bathroom, and sleeping area. It has a separate ingress and egress from the primary dwelling unit. It is generally subordinate in size and location to the primary dwelling, and may be attached to a house or garage, or built as a stand-alone unit. Generally, it will use the utility connections of the primary house.

A contamination (hazard or nuisance) that may affect the value and marketability of the site.

Recorded information that identifies and describes real estate property (e.g., a record of transactions, value for taxation purposes), sometimes referred to as a property record, tax card, or public record.

A level that is either entirely or partially below the ground level. If any portion of an area is below ground level, then the entire level is considered below grade.

A non-profit entity, or federal, state, or local government that owns land and leases it under a long-term ground lease to a homebuyer who purchases the improvements on the land. The ground lease contains certain land use restrictions that preserve use of the property for affordable housing.

Lack of normal maintenance and upkeep that may result in repairs or replacement of items.

Any building containing living unit(s) designed to be used as residence(s). A portion of the dwelling may also contain ADU(s).

An assumption as of the effective date of the appraisal results, which, if found to be false, could alter the appraiser’s opinions or conclusions. In essence, an extraordinary assumption is what the appraiser assumes to exist (e.g., evidence of termite infestation).

Whether above or below grade, an area is considered finished when it is enclosed, suitable for year-round living, and meets locally accepted standards. Reference published guidelines by the GSEs, government agencies, or other identified secondary market participants for specific guidance.

A visual representation or diagram that shows the interior and exterior walls, doors, and stairs of a dwelling.

A condition that is contrary to what is known by the appraiser to exist on the effective date of the assignment. The hypothetical condition is used to value the collateral as if the condition has been met (e.g., subject to completion or repair).

The number of months back from the appraisal effective date that the appraiser used to analyze and report on sales.

Indicates whether the appraised value is As Is, or subject to one of the following conditions:

• Subject to Completion Per Plans

• Subject to Inspection

• Subject to Repair

All dwellings on the property are 100% newly constructed, including the foundation, were completed in the past 12 months, have never been occupied, and exhibit no signs of wear or use.

Finished area(s) in the dwelling that are attached to the dwelling but separate and not directly accessible from any unit. Example: Family room or other finished area attached to or above an attached garage that is only accessible through the garage.

A building other than the dwelling (e.g., barn, shed, bunkhouse, or standalone ADU). A portion of the outbuilding may contain ADUs or other finished space. An ADU not attached to the residence is considered to be an outbuilding.

An onsite measurement to determine square footage of the subject improvements.

A subdivision that consists of common property and improvements that are owned and maintained by a homeowners association (HOA) for the benefit and use of the individual PUD unit owners. A unit owner in the PUD has title to a residential property (parcel and dwelling) and an interest in the HOA that owns or manages the common areas and facilities of the PUD.

The accumulation of factual information collected from the physical or virtual observation of a residential property that is completed specifically for mortgage purposes, whether in the form of data or a report. This is limited to property characteristics and does not include opinions of value.

Note: Tax records and MLS listings are data sources and do not constitute a property data report.

A company contracted by the board of directors of a homeowners association (HOA) to manage maintenance and upkeep of the common elements in a PUD, condo, cooperative, or condop.

The red number identifying the specific location of the field on the URAR.

The name of the field as shown on the URAR.

A building with a foundation, walls, and a roof, designed to protect from the weather, which can be a dwelling or an outbuilding.

A technology used to photograph and measure the area of a unit.

A process that uses three-dimensional printing technologies as a core method in the fabrication of a structure.

A dynamic appraisal report that addresses all residential 1- to 4-unit property types.

The generally recognized ethical and performance standards for the appraisal profession in the United States. USPAP was adopted by Congress in 1989, and contains standards for all types of appraisal services, including real estate, personal property, business and mass appraisal. Compliance is required for state-licensed and state-certified appraisers involved in federally related real estate transactions.

Deterioration or reduction in condition that results from ordinary use, exposure to natural elements over an extended period of time, or aging (e.g., worn carpet, scratches or scuffs on floors or walls, fading paint or finishes).