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Qualified Appraisal Reviews with Buffalo Ridge Appraisals, LLC.As said in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers fulfilling reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Buffalo Ridge Appraisals, LLC., we provide appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's regulations.The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is fitting for the transaction, the exposure inherit in the transaction, and whether the manners by which the property valuation is accomplished ensures independence and quality. In addition, they must indicate whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the range of the appraisal assignment. The Federal Reserve states 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 tailoring 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 of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Buffalo Ridge Appraisals, LLC., we are qualified in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
For professional, unbiased, ethical appraisal review services and neutral judgments, you can depend on Buffalo Ridge Appraisals, LLC.. Contact us for more information about our qualifications, expertise and service offerings. |
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Buffalo Ridge Appraisals, LLC. understands what amounts to a quality appraisal and what the most prevalent inadequacies are, particularly for reports in our local housing market.
In the same sense, we're proficient enough to recognize that our competitors in our market are capable of doing a fine job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Buffalo Ridge Appraisals, LLC. to lawfully study appraisal reports done by others. And those others could be studying our work, too!