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Akridge Real Estate Appraisal, Inc. Appraisal ReviewsAccording to 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 expectation of appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Akridge Real Estate Appraisal, Inc., we provide appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's guidelines.A review appraisal has to find out: whether the original appraisal or evaluation is appropriate for the transaction, the liability inherit in the transaction, and whether the process by which the property valuation is attained ensures independence and quality. Moreover, they should show whether the appraisal or evaluation report is compatible with the engagement letter, which describes the scope of the appraisal assignment. Lastly, the Fed also 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 coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely 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. Here at Akridge Real Estate Appraisal, Inc., we are trained in every kind of appraisal review, review practice and the responsibilities of review appraisers.
When you choose Akridge Real Estate Appraisal, Inc., you can rely on our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and services offered. |
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We are aware of what amounts to a quality appraisal and what the greatest errors are, specifically when it comes to our home market.
In this regard, we're skilled enough to distinguish that the competitors in our market are skillful in doing a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to justly valuate appraisal reports executed by others. And those others could be reviewing our work, too!