Experienced Appraisal Reviews by Premier Appraisal of SoCal
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's rules, just contact Premier Appraisal of SoCal.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact Premier Appraisal of SoCal today.
Appraisal reviews "have to verify whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is collected guarantees independence and quality," according to the Federal Reserve. They "should also announce whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add periodic reviews with post-funding evaluations of appraisal quality for some of their high-risk or greater-value affairs as a means to help in uncovering valuation complications."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally 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 Premier Appraisal of SoCal, we are trained in every form of appraisal review, review practice and the obligations of review appraisers.
We understand what the most common inadequacies are, specifically in our real estate market, as well as what constitutes a quality appraisal. In the same regard, we're experienced enough to realize that our competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to objectively review appraisal reports done by others. And those others might be studying our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can count on Premier Appraisal of SoCal. Contact us for more information regarding our qualifications, expertise and service offerings.