Appraisal review

A review is an appraisal of an appraisal. The question is not what the property is worth. The question is whether the report in front of you is credible, complete, and compliant, and whether its conclusion is supported by what is in it.

What a review looks at

• Whether the scope of work suits the problem the report says it is solving
• Whether the comparables are genuinely comparable, and whether better ones were available and skipped
• Whether each adjustment has support, or is just a number
• Whether the approaches used were the right ones, and whether omissions are explained
• Whether the report meets USPAP and the client's own requirements

Form review and expanded review

Form 2000 and its variants handle routine lender review. Litigation and eminent domain matters usually need more than a form: a written analysis of method and support, which sometimes concludes with an opinion of value of its own and sometimes does not.

A review is not a rubber stamp in either direction

A reviewer who never finds a problem is not reviewing. A reviewer who finds a problem in everything is not either. The job is to say plainly what holds up, what does not, and how much it matters to the conclusion.

Who orders reviews

• Attorneys facing an opposing appraisal
• Lenders and credit unions with internal review requirements
• Property owners who think the number in front of them is wrong
• Estates and trustees confirming a value before relying on it

Send it over

Call 984-360-8050 or email claude@globalappraisal.net. Send the report and say what decision rides on it.