C'mon! Time is money!

[Michigander]

Wasn't Timothy indicating the difference between full time review appraisers (like employees of a bank) versus appraisers who sometimes review? And BTW, you don't have to do a field review to do a review (Andrew).

 

[hastalavista]

And, depending on the review SOW, a review having comps with closing dates after the original report's effective is acceptable and in some circumstances, could be required.

 

[Alexx]

Thank you for the clarification; my first post has been edited to call attention to any individual performing an appraisal review.

I am also aware that there are different types of reviews that can be performed on an appraisal. In this circumstance the assignment was a field review, and if the review appraiser's SOW fell outside the questions identified on the form a disclaimer would be courteous.

 

[hastalavista]

and if the review appraiser's SOW fell outside the questions identified on the form a disclaimer would be courteous.

I would say obligatory.
However, in my personal experience (and, your situation may be different), I've had only part of my review or a summary of my review or a "cut & paste" section of my review sent to the originating appraiser, so he/she doesn't get to see what my scope was, and assumes it was similar to their scope (which it isn't).

I'm for full disclosure of what the reviewer's SOW is in all cases. How else can the originating appraiser determining if there is
A. any merit in the review's conclusions if they are asked to opine, and
B. anything that the originator should do?

 

[Alexx]

Very true.

 

[polkappraisal]

Right On!! I just wish the risk management team would learn to read reviews as well. We are not re writing the appraisal we are reviewing. If the appraisal is soooo bad that it needs re written then a new appraisal should be done. Don't you think so?