Experienced Appraisal Reviews with Dakota Plains Appraisal LLC
According to a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers fulfilling reviews have to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Dakota Plains Appraisal LLC, we provide appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact Dakota Plains Appraisal LLC today.
As stated by the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is collected ensures independence and quality." In addition, they "should show whether the appraisal or evaluation report is true to the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions augment routine reviews with post-funding surveys of appraisal quality for a few of their higher-risk or large-value transactions as a means to help in discovering valuation complications."
In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can prepare 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 Dakota Plains Appraisal LLC, we're trained in every form of appraisal review, review process and the responsibilities of review appraisers.
Dakota Plains Appraisal LLC knows what constitutes a quality appraisal and what the most frequent defects are, specifically in our real estate market. We're also adequately trained to recognize that our competitors 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 Dakota Plains Appraisal LLC to lawfully look over appraisal reports completed by others. And those others could be evaluating our work, too!
You can count on Dakota Plains Appraisal LLC for our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and services offered.