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what does it mean.

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transformers

Thread Starter
Freshman Member
Joined
Apr 3, 2007
Professional Status
Certified Residential Appraiser
State
Texas
when an appraisal is ordered for 'quality control purposes.'
 

stefan olafson

Senior Member
Joined
Apr 2, 2003
Professional Status
Certified General Appraiser
State
North Dakota
The client is asking you to appraise a property to see if the original appraisal they have in their file is complete and the property value is at a minimum supported.

It's a method used by some lenders to try keep appraisers honest.
 

transformers

Thread Starter
Freshman Member
Joined
Apr 3, 2007
Professional Status
Certified Residential Appraiser
State
Texas
thanks, just wanted to make sure
 

Mike Boyd

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Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
It might also be a "post closing appraisal." This might occur many months, even years, after the loan was funded. It might be used when loans are sold.
It is to rate the quality of the portfolio being offered for sale.
 
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