Appraisal Reviews with South Shore Realty Advisors, Inc
According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at South Shore Realty Advisors, Inc, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call South Shore Realty Advisors, Inc today.
The Federal Reserve says appraisal reviews "ought to verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is acquired ensures independence and quality." Moreover, they "must denote whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some banks add periodic reviews with post-funding evaluations of appraisal quality for a number of their high-liability or large-value contracts as a means to aid in uncovering valuation problems."
In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally 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. Here at South Shore Realty Advisors, Inc, we are experienced in all types of appraisal reviews, review procedures and the requirements of review appraisers.
South Shore Realty Advisors, Inc is aware of what the most frequent defects are, specifically in our real estate market, as well as what represents a quality appraisal. At the same time, we're experienced enough to realize that the competition in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to lawfully examine appraisal reports done by others. And those others could be evaluating our work, too!
You can count on South Shore Realty Advisors, Inc for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact South Shore Realty Advisors, Inc regarding our qualifications, expertise and services offered.