|
Competent Appraisal Reviews with The Property Shop of the Carolinas, LLC.As said in an announcement 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 undertaking reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." The Property Shop of the Carolinas, LLC. provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's regulations.A review appraisal has to ascertain: whether the original appraisal or evaluation is applicable for the transaction, the liability inherit in the transaction, and whether the manners by which the real estate valuation is attained guarantees independence and quality. Moreover, they must demonstrate whether the appraisal or evaluation report is in line with the letter of engagement, which gives an account of the outlook of the appraisal assignment. The Federal Reserve 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".
In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll formulate 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 The Property Shop of the Carolinas, LLC., we are trained in all forms of appraisal reviews, review practices and the requirements of review appraisers.
For professional, objective, ethical appraisal review services and independent judgments, you can rely on The Property Shop of the Carolinas, LLC.. Contact us regarding our qualifications, expertise and services offered. |
|||||||||
We know what the typical report defects are, particularly in our housing market, as well as what constitutes a quality appraisal.
In the same sense, we are trained enough to identify that our competition in our market are qualified to do a good job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on The Property Shop of the Carolinas, LLC. to justly assess appraisal reports performed by others. And those others may be studying our work, too!