Skilled Appraisal Reviews with Blue Chip Real Estate AppraisalAs said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers fulfilling reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Blue Chip Real Estate Appraisal provides appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the actions by which the property valuation is attained guarantees independence and quality. In addition, they should announce whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the range of the appraisal assignment. Lastly, the Federal Reserve also says that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Blue Chip Real Estate Appraisal, we are trained in every kind of appraisal review, review practice and the obligations of review appraisers.
Blue Chip Real Estate Appraisal realizes what the typical report deficiencies are, especially in our housing market, as well as what constitutes a quality appraisal. At the same time, the professionals at Blue Chip Real Estate Appraisal are amply experienced to distinguish that the competition in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Blue Chip Real Estate Appraisal to justly study appraisal reports executed by others. And those others may be evaluating our work, too!
Here at Blue Chip Real Estate Appraisal, you can be sure of our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Blue Chip Real Estate Appraisal for more information about our qualifications, expertise and services offered.