Qualified Appraisal Reviews by Tight & Right Real Estate Valuation
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers performing reviews ought to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's rules, just contact Tight & Right Real Estate Valuation.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact us today.
Appraisal reviews "must determine whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions add periodic reviews with post-funding assessments of appraisal quality for a few of their higher-risk or large-value contracts as a channel to aid in exposing valuation problems."
In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll prepare 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 Tight & Right Real Estate Valuation, we are experienced in every kind of appraisal review, review process and the obligations of review appraisers.
Tight & Right Real Estate Valuation is aware of what the biggest defects are, specifically in our home market. We also know what amounts to a quality appraisal. We're also skilled 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 as well as appraisal reports, and you can trust Tight & Right Real Estate Valuation to justly review appraisal reports carried out by others. And those others might be evaluating our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can depend on Tight & Right Real Estate Valuation. Contact us regarding our qualifications, expertise and services offered.
Quality appraisals by qualified appraisers! Contact us now to discuss your specific valuation needs.
Qualified New Jersey real estate appraisal review compliance with the Federal Reserve appraisal rules & The Uniform Standards of Professional Appraisal Practice (USPAP).
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