An appraisal review is "the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal or appraisal review assignment."
According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality,"......"and should also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the scope of the appraisal assignment." The Fed also notes 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."
We have experience with all types of appraisal reviews (on commercial properties), review procedures and the responsibilities of a review appraiser. We understand what it takes to produce a reliable appraisal report as well as the most common deficiencies, especially in our home market. At the same time, we are professional enough to recognize that many of our competitors are capable of doing a good job! In short, you can rely on our professional, objective and ethical appraisal review services.