Experienced Appraisal Reviews by Property Valuation Group
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers performing reviews are obligated to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Property Valuation Group provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today.
Appraisal reviews "have to verify whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. They "must also announce whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also says that "some institutions augment periodic reviews with post-funding evaluations of appraisal quality for a number of their high-liability or large-value transactions as a means to help in revealing valuation disputes."
In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will prepare 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 Property Valuation Group, we're qualified in every kind of appraisal review, review process and the requirements of review appraisers.
Property Valuation Group understands what the greatest weaknesses are, specifically in our real estate market. We also know what constitutes a quality appraisal. Concurrently, we are adequately skilled to realize that the competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to objectively assess appraisal reports carried out by others. And those others could be evaluating our work, too!
For professional, fair, ethical appraisal review services and neutral judgments, you can count on Property Valuation Group. Contact Property Valuation Group regarding our qualifications, expertise and service offerings.