Expert Appraisal Reviews by Visser Appraisals, Ltd.As stated 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 call of appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Visser Appraisals, Ltd. provides appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's rules.
A review appraisal should verify: whether the original appraisal or evaluation is suitable for the transaction, the liability inherit in the transaction, and whether the means by which the real estate valuation is accomplished guarantees independence and quality. The review should also demonstrate whether the appraisal or evaluation report is in line with the letter of engagement, which describes the depth 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 procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll 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 Visser Appraisals, Ltd., we are trained in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
We're aware of what the most prevalent report deficiencies are, specifically in our real estate market, as well as what amounts to a quality appraisal. Concurrently, we are proficient enough to know that our competition in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to objectively look over appraisal reports performed by others. And those others could be evaluating our work, too!
In short, at Visser Appraisals, Ltd., you can trust our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.