According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers completing reviews ought to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's guidelines, just contact REVARI (Real Estate Valuation and Research Inc.).
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
As stated by the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is collected ensures independence and quality." They "should also announce whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions augment periodic reviews with post-funding surveys of appraisal quality for a number of their higher-risk or large-value contracts as a way to assist in exposing valuation disputes."
In addition to adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can 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. Here at REVARI (Real Estate Valuation and Research Inc.), we are experienced in every kind of appraisal review, review procedure and the requirements of review appraisers.
REVARI (Real Estate Valuation and Research Inc.) understands what the most common imperfections are, specifically in our real estate market, as well as what makes a quality appraisal. In the same sense, we're adequately skilled to identify that our competitors in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to justly study appraisal reports carried out by others. And those others may be evaluating our work, too!
In short, when you choose REVARI (Real Estate Valuation and Research Inc.), you can rely on our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact REVARI (Real Estate Valuation and Research Inc.) regarding our qualifications, expertise and services offered.