Appraisal Review

Independent appraisal review, quality control and compliance

When a report does not add up, someone has to say precisely why. We analyse existing appraisals for completeness, accuracy and compliance with industry standards and regulatory requirements, identify discrepancies, errors and omissions, and recommend the corrective action the file needs.

Send us the report

A free first call. We will tell you whether a formal review is worth commissioning before you pay for one.

Review services we provide

Whether the concern is a single suspect report or the consistency of an entire pipeline, these are the services we deliver to keep valuations accurate, compliant and defensible.

Appraisal review

A thorough analysis of an existing appraisal to assess completeness, accuracy and compliance with industry standards and regulatory requirements. We identify discrepancies, errors and omissions, state their effect on the conclusion, and provide recommendations for corrective action.

Quality control

A comprehensive quality control process applied across appraisal reports to confirm they meet standards of accuracy, reliability and compliance. Used by lenders and management companies to catch problems before funding rather than after a repurchase demand.

Due diligence

Detailed analysis of the property and its surroundings, including zoning, environmental concerns and other factors capable of affecting value. The result is a report giving a thorough understanding of the property’s value and the risks attached to it.

USPAP compliance

Confirmation that a report is fully compliant with current industry standards and regulatory requirements. Our appraisers are trained and experienced in adhering to USPAP, with ongoing education so the work reflects the latest changes rather than last cycle’s rules.

Mortgage fraud investigation

Investigation of suspected fraudulent activity connected to real estate transactions, using a range of techniques and tools to identify indicators of fraud, with detailed written findings and recommendations for action.

Rebuttal reviews for disputes

Critique reviews for owners, borrowers and counsel who need to challenge a valuation, and rebuttals of opposing experts in litigation. Written to be produced, and supported by testimony where the matter requires it.

What a review typically uncovers

Most flawed appraisals are not dishonest. They are rushed, or built on one bad assumption that then carries through the whole report. These are the defects we find most often, and each of them moves a value.

Comparables that are not comparable

Sales pulled from a different submarket, a different school district or the wrong side of a major road, then adjusted as though the difference were cosmetic.

Incorrect gross living area

Square footage taken from tax records rather than measured, or calculated without following the ANSI standard, which changes the price per foot for every comparable.

Condition and quality misstated

Deferred maintenance, incomplete permits or unpermitted additions not reflected, or a condition rating that the photographs do not support.

Undisclosed listing or sales history

Prior listings, withdrawn offers or a recent transfer left out, when each of them is evidence about the property's market.

Who we review for

The same report raises different questions depending on whether you are relying on it, challenging it, or answerable for it.

Lenders and management companies

Pre-funding quality control, post-close audits and compliance reviews across a pipeline, applied consistently so results compare against each other.

Attorneys

Critique of opposing appraisals, rebuttal reports and written findings prepared to be produced, with testimony available if the matter proceeds.

Homeowners and borrowers

An independent second look when a low appraisal has stalled a sale or a refinance, and documented grounds for a reconsideration of value.

Investors and fund managers

Due diligence and valuation review on acquisitions and portfolio holdings, so the numbers you rely on have been tested by someone independent.

What clients say

From the lenders, attorneys and owners who send us reports to test.

They found three unsupported adjustments and a comparable from the wrong submarket, with page references for each one. The reconsideration went through in under two weeks.

Douglas Ferraro

Our opposing expert had built everything on a square footage figure taken from the tax roll. The review dismantled it cleanly and the case settled shortly after.

Bianca Okonjo, Esq.

I expected them to tell me what I wanted to hear. Instead they said the original appraisal was sound and explained why. Frustrating to hear, and worth every dollar.

Peter Halvorsen

How a review works

Four steps, with scope and a flat fee agreed before any work begins.

Free first look

Send the report and tell us what concerns you. We say whether a formal review is worth commissioning, then quote a flat fee and a date.

Analysis

We test the data, the comparables, the adjustments, the methodology and the USPAP disclosures against the assignment the report was written for.

Independent verification

Sales verified from source, area and condition checked, and a site inspection carried out where the scope calls for a field review.

Written findings

A signed review setting out each deficiency, its effect on value, the corrective action required and, where the scope calls for it, our own opinion of value.

Where we review

Seven counties across Southern California. Desk reviews can be completed anywhere in that footprint without travel, which keeps cost and turnaround down.

Appraisal review questions

The questions that come up most on a first call.

What is an appraisal review?

It is an independent examination of an existing appraisal to assess whether it is complete, accurate and compliant with professional standards. The reviewer tests the data, the comparables, the adjustments and the methodology, then reports any discrepancies, errors or omissions along with their effect on the conclusion and what corrective action is needed.

What is the difference between a desk review and a field review?

A desk review examines the report and the data without visiting the property. It is faster and cheaper, and it catches most methodology and comparable selection problems. A field review adds an inspection of the subject and often the comparables, which matters when condition, quality or square footage is in question. We recommend the scope that answers your question at the lowest sensible cost.

What is USPAP Standard 3?

Standard 3 is the section of the Uniform Standards of Professional Appraisal Practice that governs appraisal review. It sets out what a reviewer must do when developing an opinion about the quality of another appraiser’s work, and what must be disclosed in the review report. A review prepared to Standard 3 carries considerably more weight than an informal opinion.

Can a review produce its own opinion of value?

Yes, if the assignment calls for it. A review can be limited to evaluating the quality of the original work, or it can include the reviewer’s own opinion of value developed independently. The second is more useful when the figure itself is disputed, and it costs more because it requires full valuation work rather than analysis alone.

My appraisal came in low and my sale is falling apart. Can you help?

Often, yes. If the report contains errors, a documented review gives you grounds for a reconsideration of value with the lender. It is worth being clear about the limits: a review does not oblige a lender to change anything, and where the original appraisal was sound we will tell you rather than sell you a rebuttal that will not succeed. That assessment is free.

What does a review usually find?

Most commonly, adjustments applied without market support, comparables selected from a different submarket, square footage taken from tax records instead of measured, condition or quality ratings that the photographs contradict, and missing USPAP disclosures. Any one of these can move a value materially.

What is mortgage fraud investigation?

It is investigative work on transactions where fraud is suspected, such as inflated values, straw buyers, undisclosed relationships between parties, flip patterns or falsified documentation. We use a range of techniques and tools to identify the indicators and produce detailed written findings with recommendations for action.

Can a review be used in court?

Yes. Reviews prepared to Standard 3 are regularly used in litigation, arbitration and insurance appraisal proceedings. We also provide expert witness testimony, so the appraiser who signed the review can defend it in deposition or at trial.

What does a review cost and how long does it take?

The first look is free. Beyond that we quote a flat fee once we know the scope, and you will have the figure before work starts. Desk reviews are usually returned within a few business days and field reviews within one to two weeks. Tell us your deadline and we will confirm it before you engage us.

Have the report tested before you rely on it

Send it over for a free first look. If a formal review is not worth commissioning, we will say so on the call.

At our appraisal company, we offer a range of services to help ensure the accuracy and reliability of real estate appraisals, including review, quality control, due diligence, USPAP compliance, and mortgage fraud investigation services.

Our review services involve a thorough analysis of existing appraisals to assess their completeness, accuracy, and compliance with industry standards and regulatory requirements. We identify any discrepancies, errors, or omissions and provide recommendations for corrective action.

Our quality control services focus on ensuring that appraisals meet the highest standards of accuracy, reliability, and compliance. We have a comprehensive quality control process that includes a thorough review of all appraisal reports to ensure that they meet our rigorous standards.

Our due diligence services involve a detailed analysis of the property and its surroundings, including zoning, environmental concerns, and other factors that could affect the property’s value. We provide a comprehensive due diligence report that provides our clients with a thorough understanding of the property’s value and any potential risks.

Our USPAP compliance services ensure that appraisals are fully compliant with the latest industry standards and regulatory requirements. Our appraisers are trained and experienced in adhering to USPAP guidelines, and we provide ongoing training and education to ensure that we remain up-to-date with the latest changes.

In addition, we offer mortgage fraud investigation services to help identify any fraudulent activity related to real estate transactions. Our experienced investigators use a variety of techniques and tools to uncover any potential fraud and provide our clients with detailed reports and recommendations for action.

By providing these services, we help our clients to make informed decisions about their real estate holdings and investments, while also protecting them from potential fraud and other risks.

If you require review, quality control, due diligence, USPAP compliance, or mortgage fraud investigation services for your real estate holdings, our team is ready to assist you. Contact us today to learn more about our services and how we can help you ensure the accuracy and reliability of your real estate appraisals, as well as identify and prevent potential fraud.