Field Review-What does this consist of?

[jeffwoody]

Just got a request for a field review, am I just reviewing the appraisal or doing a new one? Would appreciate any advice.

 

[Ray Miller]

Just got a request for a field review, am I just reviewing the appraisal or doing a new one? Would appreciate any advice.

It depends on your scope of work, what the order calls for.

From your question I would suggest that you might ask your mentor how to proceed.

Remember you are not reviewing the appraiser, but just the appraisal.

If this is your first review it would appear that you are in over you head if you have to ask this question. Get Help

 

[Lee Lansford]

You can't just take a guess at what the client expects of you.

An important part of any assignment is ensuring that the two parties have a meeting of the minds as what the client is requesting of the appraiser.

Contact your client and ask this important (and, preliminary) question.

 

[Karl]

Just got a request for a field review, am I just reviewing the appraisal or doing a new one? Would appreciate any advice.

Join Date: Jun 2007
State: California
Professional Status: Certified Residential Appraiser
Posts: 1

Welcome to the Forum Jeff:

I am very curious, how long you been a Certified Appraiser??

 

[Dennis J. Black ASA IFAS]

I know its your first post but, did you sleep through USPAP and the whole discussion about Scope of Work?

To all those who think I'm harsh, too bad. I am sick and tired of seeing these types of questions from people who are CERTIFIED.

 

[Elliott]

Woody,
Welcome to the forum. When I use to do reviews I always figured it
was easier to just do a new appraisal. The Appraisal Foundation had a
mission to produce a tremdous excess supply of appraisers over the
last 8 years, many are very poorly trained with a minimum of experience.
After you've completed your own report, compare it with the report to be
reviewed, then juxtapose the two, that's what a good review is.

 

[Joyce Potts]

Oh boy. If you have to ask these questions, you might want to pass on the assignment until you can find someone experienced to help you out.

 

[Carnivore]

Jeff,

Welcome to forum. Dont pay any attention to those mean B_stards.

You will soon learn that I am friendly as can be. To prove how nice I am:

FYI http://commerce.appraisalfoundation.org/html/USPAP2008/USPAP_folder/standards/std_03_.htm

good luck

p.s. watch out for Potts, that one will get you going. Also, Webbed feet must be taking a nap!

 

[Jo Ann Meyer Stratton]

Review Standard 3 of USPAP--follow it's guidelines on how to review the appraisal report the client provides. Then review Standard 1, in developing an opinion of the appraisal report, you will be determining whether the value in the original report is reasonable or not. Your determination of the valiidity of that opinion of value is an appraisal on your part, therefore Standard 1 is the guideline you follow in developing an opinion of market value.

Or are you doing an administrative review only? In that case you are not considering anything to do with the opinion of value but did they spell their words correctly, did they explain what they did, do their explanations make sense, is their math correct, etc, etc, etc. An administrative review can be completed by a non-appraiser. Opinions regarding value can only be done by a license/certified appraiser.

If this is your first review assignment you should be working with a more experience licensed/certified appraiser so they can mentor you through the process.

 

[Dennis J. Black ASA IFAS]

Elliot,

First, The Appraisal Foundatin had NOTHING to do with increasing the number of appraisers. It was the states unwillingness to raise the level above the ASC minimum.

Secondly, why would you do an appraisal if your client ordered a review? That's an appraisal, not a review.