|
Getting a second opinion on an appraisalAs stated in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the call of appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Realtech Properties provides appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's guidelines.A review appraisal should detect: whether the original appraisal or evaluation is appropriate for the transaction, the liability inherit in the transaction, and whether the manners by which the real estate valuation is accomplished guarantees independence and quality. Moreover, they must signify whether the appraisal or evaluation report is in line with the letter of engagement, which sets forth the scope of the appraisal assignment. Lastly, the Fed says 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".
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Realtech Properties, we are trained in every kind of appraisal review, review process and the obligations of review appraisers.
At Realtech Properties, you can trust our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered. |
|||||||||
We realize what represents a quality appraisal and what the greatest errors are, especially for reports in our home market.
Concurrently, we are sufficiently skilled to distinguish that our competitors in our market are skillful in doing quality work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Realtech Properties to objectively review appraisal reports executed by others. And those others could be examining our work, too!