What is the abbreviation for the report commonly used in residential appraisals?

The abbreviation that is commonly used in residential appraisals is the Uniform Residential Appraisal Report, often referred to as URAR. This document is standardized by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) for use in residential property appraisals. The URAR is used to provide detailed information about the property's condition, location, and market value, and it is essential for lenders, buyers, and sellers to understand the value of a property within a specific market.

The URAR format ensures consistency and reliability in appraisals, which is crucial for underwriting processes and for promoting fair lending practices. It includes sections for property data, comparable sales, and a conclusion of value, offering a thorough assessment that aligns with regulatory requirements.

The other options, while they may seem related to appraisal documents, do not reflect the standardized format and usage that are achieved with the URAR. Terms like "Residential Property Report" or "Residential Appraisal Form" lack the universally accepted framework of the URAR, which is crucial for maintaining uniformity across residential appraisals in various markets. Therefore, the URAR stands out as the industry-recognized report for residential appraisal purposes.