Why should you use an appraisal review firm?
· Do you want to take a property back in foreclosure because an inexperienced reviewer looked at your loan’s appraisal with a “wink-and-a-nod” and overlooked significant issues?
· Do you want that phone call from your investor or subscriber with the news that the property in which they have an investment has gone into foreclosure because of an inferior appraisal?
· If you are using the appraisal for litigation, wouldn't you want to correct any deficiencies prior to the courtroom?
· When you make a loan on a commercial property do you have a formal, written, documented review process for the appraisal, or do you just look to see if the appraiser “hit the number”?
· Do you want a loan to come back to haunt you because of an appraisal that should have been independently and impartially reviewed?
· In the early 1990’s, there were thousands and thousands of appraisers across the country that “hit the number” just weeks or months prior to foreclosure on property. Are we headed for a similar real estate cycle? Are you willing to take that chance with your livelihood?
Fee Schedule for Appraisal Review Assignments for Litigation Support or
Mortgage Financing Origination
Things We Will Not Do In A Review
· We cannot re-appraise the property as part of the review. We will not provide the client with a revised value unless prior arrangements are made for a complete reappraisal of the property.
· Unless prior arrangements are made, we will not re-inspect the subject property or comparable properties, nor will we fact check the data in the report. Please see the Reviews category above.
meet compliance with USPAP Standard 3 (Appraisal Review Services), we cannot
make statements such as, “…we agree with the appraiser’s value” or
“…we disagree with the appraiser’s value” since that could be
construed as an appraisal valuation on our part.
We can conclude, however, that “…the appraiser has
(or has not) supported his/her valuation conclusions”
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A. Skolnik, MAI, the Principal of Skolnik Real
Estate Consulting Services,
has over 28 years of real estate appraisal, property tax, litigation, and review
experience – nationally, regionally, and locally – with
a wide variety of clients and property types.
A detailed listing of Mr. Skolnik’s qualifications
may be found on our website by clicking the link, below: