Expert Appraisal Reviews by John Petz Appraisal
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews are obligated to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's regulations, just contact John Petz Appraisal.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call John Petz Appraisal today.
According to the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is obtained ensures independence and quality." Moreover, they "must show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions supplement periodic reviews with post-funding assessments of appraisal quality for any of their high-liability or higher-value dealings as a means to assist in detecting valuation complications."
In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at John Petz Appraisal, we are experienced in every kind of appraisal review, review process and the requirements of review appraisers.
We are familiar with what the biggest defects are, specifically in our real estate market. We also know what amounts to a quality appraisal. In the same sense, the professionals at John Petz Appraisal are sufficiently experienced to identify that our competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to objectively study appraisal reports completed by others. And those others could be evaluating our work, too!
When you choose John Petz Appraisal, you can count on our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact John Petz Appraisal for more information regarding our qualifications, expertise and service offerings.