Commercial and Residential Appraisal Reviews
VMG Technical Review: Experienced commercial and/or residential appraisers will perform a review of the appraisal for Interagency Appraisal and Evaluation Guidelines, compliance with USPAP, applicable state laws, the specific requirements or instructions that are required by an institution’s appraisal policy, obvious errors, and any other special order instructions. Should something be unclear, need correction, or something pertinent has been left out, the VMG reviewer will contact the appraiser and make a request for corrections or revisions. Appraisal compliance considering regulatory expectations is a key factor of the technical review.
VMG Desktop Review: The same items are covered as in the technical review but, in addition, the review appraiser also performs independent research to verify the appraiser’s comparable data and to see if any applicable market data is found that may lead to a different conclusion of value. A desktop review will indicate a recommended action to accept as-is, accept after some revisions are made or to reject the appraisal completely and will provide a detailed reason for the review appraiser recommendation. Appraisal compliance considering regulatory expectations is a key factor of the desktop review.
Nationwide Commercial Appraisal Technical Reviews
• Office Buildings
• Apartment Buildings (100 units or less)
• Funeral Homes
• Veterinary Clinics
• Vacant Land
• Special use facilities or special event facilities
• Subdivision analysis with aspects to be valued other than vacant developed lots, such as lots plus:
– Additional excess land
– Land and improvements
– Partially improved lots (not all infrastructure in place)
– Common areas that also need to be valued, etc.
• Any property with primary improvements, but also includes excess land as a component
• Large tracts of land with only ancillary or specialty improvements
• Assisted living facilities
• Convenience stores
• Retail with greater than 30,000 square feet
• Golf courses
• Conservation easements
• Any properties with two uses involved
• Hotels with less than 80 rooms
• Apartment Buildings with more than 100 units
• Funeral Homes
• Investment grade office buildings
• Hotels with more than 80 rooms
• Contaminated property
• Any multiple use property with more than two uses involved
Nationwide Residential Appraisal Technical Reviews
Residential Technical Reviews are completed by licensed/certified real estate appraisers.
Contact us for competitive pricing on nationwide commercial and residential review products.
If you would like to know more about VMG’s review products, contact us today.