Appraisal Reviews by Grace Realty
According to a statement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's regulations, just contact Grace Realty.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call Grace Realty today.
Appraisal reviews "have to decide whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is accomplished guarantees independence and quality," the Federal Reserve says. They "must also announce whether the appraisal or evaluation report matches the engagement letter, which describes the outlook of the appraisal assignment." The Federal Reserve also notes that "some banks reinforce routine reviews with post-funding evaluations of appraisal quality for any of their high-risk or high-value transactions as a control to assist in exposing valuation complications."
In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Grace Realty, we are experienced in every type of appraisal review, review practice and the responsibilities of review appraisers.
We know what the greatest defects are, specifically in our home market. We also know what amounts to a quality appraisal. The professionals at Grace Realty are also experienced enough to admit that the competition in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to ethically study appraisal reports performed by others. And those others could be evaluating our work, too!
When you choose Grace Realty, you can be sure of our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.