Appraisal Reviews with Property Valuation Group
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews should "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's rules, just contact Property Valuation Group.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "should conclude whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the procedures by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. They "must also show whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce typical reviews with post-funding assessments of appraisal quality for a few of their higher-risk or greater-value contracts as a means to assist in discovering valuation disputes."
In addition to adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll produce 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 Property Valuation Group, we're qualified in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
We realize what the most frequent inadequacies are, particularly in our real estate market. We also know what amounts to a quality appraisal. We're also sufficiently skilled to admit that the competition in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to ethically valuate appraisal reports carried out by others. And those others might be reviewing our work, too!
In short, when you choose Property Valuation Group, you can be sure of our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and service offerings.