|
|
APPRAISAL REVIEW
Getting a second opinion on an appraisal According to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the duty of appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." PahRoo Appraisal & Consultancy provides appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's regulations.
A review appraisal has to determine: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the actions by which the property valuation is attained guarantees independence and quality. The review must also announce whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the extent of the appraisal assignment. The Fed states that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
 |
 |
 |
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today. |
|
|
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At PahRoo Appraisal & Consultancy, we're skilled in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
 PahRoo Appraisal & Consultancy understands what the most frequent reporting weaknesses are, specifically in our real estate market. We also understand what constitutes a quality appraisal. We're also skilled enough to realize that our competition in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to justly valuate appraisal reports done by others. And those others might be studying our work, too!
For professional, objective, ethical appraisal review services and neutral judgments, you can rely on PahRoo Appraisal & Consultancy. Contact us for more information about our qualifications, expertise and service offerings.
|
|
