What is a "technical" desk review?

[rubberchicken]

Somehow or another I have ended up on some company's list and they have called me 3 times in the past 2 days to do "technical" desk reviews and they keep emphasizing that they dont need a full desk review. What is the difference between a desk review and a "technical" desk review? Isn't a review a review no matter what you call it?

 

[BRCJR]

Scope of Work Rule comes into play.
Simply, ask them what they want you to do.
I do them all the time, although mine are for my employer, a lender.
They may, very well, want more than you may do in a "Technical Review" SOW.

 

[stefan olafson]

A technical desk review typically means the reviewer takes a look at the form and what's in it, but doesn't go to the point of critiquing the appraiser on comparable selection or challenges the value. Typically not a value issue.

 

[Lee Lansford]

Though what exactly is being asked (fyi: you have to enquire and receive the client's requirements for the assignment) of you is unknown, the "technical" part of the request might indicate that you will not be required to offer an opinion of value (whether concurring with the opinion in the appraisal or not).

 

[Webbed Feet]

What I want to know

Somehow or another I have ended up on some company's list and they have called me 3 times in the past 2 days to do "technical" desk reviews and they keep emphasizing that they dont need a full desk review. What is the difference between a desk review and a "technical" desk review? Isn't a review a review no matter what you call it?

What I want to know is why do you feel stupid asking this prospective client what they mean by the words "technical" and "full?" This is just precisely the entire problem. They use undefined jargon words, and you have no idea what they want. Then you come here, also using the same undefined jargon words, and you think we can answer what they mean to this prospective client for you.

Go ask what they want.

P.S. While you are at it, tell their staff they are using undefined jargon, that there are no such defined industry terms.

 

[Terrel L. Shields]

They likely mean "administrative" review, i.e.- underwriters reviews. I bet they don't pay enough to make them worthwhile at best and I certainly wouldn't want to sign one as an appraiser and in my state that might be hard to do legitimately. you are an appraiser. Your work is appraisal work...and as a mandatory state, i would need to comply with USPAP.

 

[PropertyEconomics]

They likely mean "administrative" review, i.e.- underwriters reviews. I bet they don't pay enough to make them worthwhile at best and I certainly wouldn't want to sign one as an appraiser and in my state that might be hard to do legitimately. you are an appraiser. Your work is appraisal work...and as a mandatory state, i would need to comply with USPAP.

Terrel .... it can fall under appraisal services and not be an appraisal ... if you would have to meet USPAP thats not difficult to do and that doesnt mean it cant be done and done well.
Fees are a totally separate issue .... an Admin Review / Technical Review to me means a review to determine if the appraisal is USPAP compliant and methodologies are correct ... nothing about value is reviewed .....

 

[Mike Kennedy]

"Admin Review / Technical Review to me means a review to determine if the appraisal is USPAP compliant and methodologies are correct"

Outdated in some respects but helpful information on topic:

http://portal.asfmra.org/userfiles/file/membership/join_rpra_guidelines.pdf

http://www.propertyvalu.com/pvmfa98r.htm

 

[Lee Lansford]

... Isn't a review a review no matter what you call it?

Consider: various assignments will very likely have different requirements; the appraiser's SOW will certainly be influenced by the requirements.

Thus: there is no "generic" review that I'm aware of.

 

[Terrel L. Shields]

Following evaluation of the appraisal, the review appraiser must prepare a written review or give an oral report in compliance with USPAP Standard 3 to document findings and support the reviewer's conclusion.

You must follow USPAP, period. You cannot "scope away" so much as to make the work meaningless regardless VALUE consideration or no value consideration. And if my name goes on the review, I intend to charge adequately enough to cover my expenses and make a profit....​