Question

A review appraiser prepared an appraisal review and stated in the report that the reviewer had not inspected the subject property. have any standards rules been violated, and, if so, why?

Answer 1

A review appraiser prepared an appraisal review and stated in the report that the reviewer had not inspected the subject property. have any standards rules been violated, and, if so the disclosure as stated was proper as part of the description of the scope of work.

Appraisal review” is defined as “the act or method of developing and communicating an opinion about the best of every other appraiser's paintings that changed into carried out as a part of an appraisal or appraisal review undertaking.” For an appraiser issue to USPAP, appraisal review work is situation to requirements 3 and four.

An appraisal review is extra common than a second appraisal, wherein the lender calls for a brand new appraisal from scratch, consistent with Bankrate. The lender may appoint a diffusion of methods to re-guarantee itself of a domestic's price through an appraisal assessment.

An appraisal review , as the call suggests, is an assessment of an evaluation file, which guarantees that it complies with specific interventions available and is the general part of a first-rate management software for the lender.

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