Expert Appraisal Reviews by R3 Realty Valuation Service
According to a statement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation plans," and that appraisers doing reviews must "have the familiarity and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations, just contact R3 Realty Valuation Service.
If you have questions about an appraisal, or if you need a real estate appraisal review, call R3 Realty Valuation Service today.
As stated by the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality." Moreover, they "should denote whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also says that "some financial institutions add regular reviews with post-funding surveys of appraisal quality for any of their higher-risk or larger-value affairs as a channel to assist in revealing valuation complications."
In addition to adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can develop 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 R3 Realty Valuation Service, we're experienced in every form of appraisal review, review procedure and the responsibilities of review appraisers.
We understand what the most common defects are, specifically in our real estate market, as well as what represents a quality appraisal. At the same time, we're amply trained to recognize that the competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on R3 Realty Valuation Service to fairly evaluate appraisal reports performed by others. And those others may be reviewing our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can depend on R3 Realty Valuation Service. Contact R3 Realty Valuation Service for more information about our qualifications, expertise and service offerings.