Skilled Appraisal Reviews by Home Guide Realty ServicesAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers performing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Home Guide Realty Services, we provide appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's rules.
The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the procedure by which the real estate valuation is acquired ensures independence and quality. In addition, they must demonstrate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the outlook of the appraisal assignment. The Federal Reserve also goes on to say 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 adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll formulate 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 Home Guide Realty Services, we're skilled in every form of appraisal review, review procedure and the obligations of review appraisers.
Home Guide Realty Services realizes what represents a quality appraisal and what the most prevalent imperfections are, particularly when it comes to our local housing market. We're also trained enough to know that our competitors in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Home Guide Realty Services to ethically study appraisal reports executed by others. And those others might be reviewing our work, too!
When you choose Home Guide Realty Services, you can have confidence in our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Home Guide Realty Services for more information about our qualifications, expertise and service offerings.