REAL PROPERTY●BUSINESS VALUATIONS●MACHINERY AND TECHNICAL SERVICES●PERSONAL PROPERTY
‘An appraisal review is an appraisal of an appraisal’
Equity Development Systems, Ltd., appraisal reviews test the credibility of the subject appraisal, the qualifications of the reporting appraiser(s), and the regulatory compliance of the subject appraisal with international Basel Accords and U.S. state and federal law and the Uniform Standards for Professional Appraisal Practice (USPAP).
All EDS appraisal reviews, commercial and residential, are prepared by internationally accredited senior reviewers that meet or exceed the stringent new regulatory requirements for “qualified appraiser” and “qualified appraisal” contained in the U. S. Pension Protection Act of 2006.
REAL PROPERTY (Residential):
Real Property Tier 1 Desk Review:
*A review of an appraisal furnished to EDS by the lender to determine if the Opinion-of-Value in the Subject Appraisal is credible.
*The subject property and comparable sales are not inspected.
*The lot size, GLA, sales price, and date-of-sale for the subject property and the comparable sales are verified through public and/or private data sources as of the Effective Date of the Subject Appraisal.
Real Property Tier 2 Desk Review:
* Same as the Desk Review with up to 3 additional comparable sales.
* A location map of the subject property and additional comparable sales.
* Statement of USPAP Reporting Compliance.
Real Property Tier 1 Field Review:
* A review of an appraisal furnished to EDS by the lender to determine if the Opinion-of-Value in the Subject Appraisal is credible.
* Exterior inspection of the subject property and comparable sales from the street.
* Photographs of the front of the subject property and comparable sales.
* Verification of pertinent characteristics and features of the subject property and the comparable sales, including the sales price and date of sale, through public and private data sources as of the Effective Date of the Subject Appraisal.
* Statement of USPAP Compliance.
* Statement of Professional Licensing status of the Subject Appraiser(s).
Real Property Tier 2 Field Review w/Interior Inspection:
* Field Review including an interior inspection of the subject property.
* Photographs of the front, rear, and interior of the subject property as specified by the lender.
Real Property Tier 3 Field Review with Investigations:
* Same as a Field Review w/interior inspection.
* A location map of the subject property and additional comparable sales.
* 3 additional comparable sales are provided.
* Analysis and Statement of USPAP Compliance.
* Analysis and Statement of State Regulatory Compliance.
* Analysis and Statement of Federal Interagency Regulatory Allowance / Acceptance of the Subject Appraisal by the lender.
* Analysis and Statement of Federal Interagency Regulatory Compliance with the appraisal provisions of the Pension Protection Act of 2006.
* Investigation, Analysis, and Statement of the Subject Appraiser(s) Professional Licensing, and Complaints and Investigations of Wrongdoing and Disciplinary Actions taken by the State Attorney Generals Governing Real Estate Commission / Board as well as by any professional appraisal associations and governing body.
Real Property Appraisal Fraud and Litigation Support Review:
*Comprehensive Real Property Tier 3 Field Review with a determination and detailed statement of violations of USPAP and state and federal law. This can include formal complaint preparation and expert witness testimony.
REAL PROPERTY (Residential / Commercial):
Appraisal Reviews of both residential and commercial real estate may include the assistance of our internationally accredited (ASA) Real Property experts.
BUSINESS VALUATION:
Appraisal Reviews of Business Valuations may include the assistance of our internationally accredited (ASA) Business Valuation experts.
MACHINERY AND TECHNICAL SERVICES:
Appraisal Reviews of machinery and equipment may include the assistance of our internationally accredited (ASA) Machinery and Technical Services experts.
PERSONAL PROPERTY:
Appraisal Reviews of Personal Property may include the assistance of our internationally accredited (ASA) Personal Property experts.
