If you need a real estate appraisal review or have questions about an appraisal, call Edwards Appraisal Group today.
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Edwards Appraisal Group provides appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules.
Appraisal reviews "should determine whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. Moreover, they "must denote whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions reinforce routine reviews with post-funding assessments of appraisal quality for a few of their higher-risk or greater-value dealings as a way to aid in uncovering valuation concerns."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will 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. Here at Edwards Real Estate Group, Inc. in Spokane, we're trained in every form of appraisal review, review practice and the requirements of review appraisers.
Edwards Appraisal Group understands what the greatest inadequacies are, particularly in our home market, as well as what constitutes a quality appraisal. We're also sufficiently experienced to realize that the competition in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Edwards Appraisal Group to fairly study appraisal reports completed by others. And those others may be examining our work, too!
For professional, objective, ethical appraisal review services and neutral judgments, you can depend on Edwards Appraisal Group. Contact Edwards Appraisal Group to learn more about appraisal reviews in Spokane and surrounding areas.