Experienced Appraisal Reviews by Barnes Appraisal Company
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the familiarity and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Barnes Appraisal Company, we provide appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
Appraisal reviews "ought to find out 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 collected ensures independence and quality," as stated by the Federal Reserve. They "must also signify whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also says that "some institutions add typical reviews with post-funding surveys of appraisal quality for some of their higher-risk or high-value contracts as a way to help in identifying valuation issues."
In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Barnes Appraisal Company, we are qualified in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
We realize what the most frequent inadequacies are, particularly in our real estate market. We also understand what makes a quality appraisal. We're also skilled enough to distinguish that the competition in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Barnes Appraisal Company to objectively review appraisal reports performed by others. And those others could be evaluating our work, too!
In short, when you choose Barnes Appraisal Company, you can be sure of our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and service offerings.