Appraisal Reviews with Premier Appraisal of SoCal

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers performing reviews are obligated to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Premier Appraisal of SoCal provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's guidelines.

If you need a real estate appraisal review or have questions regarding an appraisal, contact Premier Appraisal of SoCal today.

Appraisal reviews "must decide whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. In addition, they "must signify whether the appraisal or evaluation report is even with the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also says that "some banks augment routine reviews with post-funding surveys of appraisal quality for some of their higher-liability or higher-value transactions as a means to aid in exposing valuation issues."

In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can 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 Premier Appraisal of SoCal, we are skilled in every kind of appraisal review, review practice and the obligations of review appraisers.

We understand what the greatest defects are, specifically in our housing market, as well as what makes a quality appraisal. In the same regard, we're trained enough to acknowledge that our competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Premier Appraisal of SoCal to ethically examine appraisal reports done by others. And those others could be studying our work, too!

In short, when you choose Premier Appraisal of SoCal, you can be sure of our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.