Skilled Appraisal Reviews by Property Valuation, LLCAs said in 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 responsibility of appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Property Valuation, LLC provides appraisal review services that are independent, efficient, professional and square with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the manners by which the real estate valuation is acquired ensures independence and quality. They should also demonstrate whether the appraisal or evaluation report is in line with the letter of engagement, which gives an account of the depth of the appraisal assignment. Lastly, 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".
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Property Valuation, LLC, we are skilled in all types of appraisal reviews, review practices and the requirements of review appraisers.
Property Valuation, LLC understands what the most likely report imperfections are, specifically in our housing market, as well as what amounts to a quality appraisal. We're also trained enough to distinguish that our competition in our market are capable of doing a great 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 assess appraisal reports performed by others. And those others may be reviewing our work, too!
At Property Valuation, LLC, you can have confidence in our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Property Valuation, LLC for more information regarding our qualifications, expertise and services offered.