Qualified Appraisal Reviews with Property Valuation Group
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules, just contact Property Valuation Group.
If you need a real estate appraisal review or have questions regarding an appraisal, contact Property Valuation Group today.
Appraisal reviews "must figure out whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. They "should also denote whether the appraisal or evaluation report is even with the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also states that "some banks supplement typical reviews with post-funding surveys of appraisal quality for some of their high-liability or high-value affairs as a method to help in addressing valuation issues."
In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can develop 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 trained in every form of appraisal review, review process and the responsibilities of review appraisers.
We know what the most frequent weaknesses are, particularly in our real estate market, as well as what amounts to a quality appraisal. We're also sufficiently trained to recognize that our competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to objectively evaluate appraisal reports completed by others. And those others may be evaluating our work, too!
In short, at Property Valuation Group, you can count on our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Property Valuation Group regarding our qualifications, expertise and service offerings.