For appraisal review services in Monroe, contact Barefoot Appraisal Co.

Barefoot Appraisal Co. Appraisal Reviews

According to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the obligation of appraisers undertaking reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Barefoot Appraisal Co. provides appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules.

A review appraisal has to find out: whether the original appraisal or evaluation is applicable for the transaction, the exposure inherit in the transaction, and whether the practices by which the real estate valuation is rendered guarantees independence and quality. The review must also show whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the extent of the appraisal assignment. Lastly, the Fed also goes on to say 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".

If you need a real estate appraisal review or have questions about an appraisal, call us today.

In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.  At Barefoot Appraisal Co., we are qualified in all kinds of appraisal reviews, review processes and the obligations of review appraisers.  

For appraisal review services in Monroe, contact Barefoot Appraisal Co. We know what the most common reporting weaknesses are, specifically in our housing market. We also know what amounts to a quality appraisal.  The professionals at Barefoot Appraisal Co. are also skilled enough to identify that the competition in our market are capable of a good job.  The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to fairly evaluate appraisal reports performed by others. And those others could be evaluating our work, too!  

For professional, impartial, ethical appraisal review services and independent judgments, you can count on Barefoot Appraisal Co.. Contact us to learn more about our qualifications, expertise and services offered.