Appraisal Reviews


The Federal Reserve has 

recently stated that "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve’s appraisal regulations and guidelines." At RU Appraisals, LLC., we provide appraisal review services that are independent, qualified, professional and follow Federal Reserve guidelines. We can handle all your review needs similar to the picture above. Does your appraisal reflect a structure like the one above?  Was it torn down or renovated?  A detailed report will cover this highest and best analysis.  We are here to make sure it was done following all the guidelines and concluding with supportive data.

 Through his many years of experience Ray has reviews residential reports. As follows: Appraisal reviews "should determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. They "should also indicate whether the appraisal or evaluation report is consistent with the engagement letter which sets forth the scope of the appraisal assignment. "The Federal Reserve also notes that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems."


We feel the following items are critical in the review process:

  • Being forthright and honest to the original appraiser. 
  • Submit a defend-able report and focus on the important issues that support value. Not to get hung up in issues that don't affect value.
  • Include supportive market data and add additional data that the appraiser may have missed or overlooked. Some appraisers in the residential market tend to use 3-4 sales and that is it. At times, it may require more to support that value. It’s just the additional effort needed to complete the picture.
  • Focus on the value and ensure sales support the value. Sometimes they overlook the non-MLS sales that are listed on the tax records.  That is where a detailed researcher comes in.  
  • State reasons is value is not supported or help support the value with additional Sales.
  • Objective is to give you the client a well written report with supportive data for the fair market value or whatever the value may be. It may not be fair market value.

Condemnation Reviews:

Ray has had extensive experience in reviewing condemnation reviews. The work is detailed oriented requiring in depth research.  Even with smaller takings the principals remain that same. Whether it's an easement being placed on the property or entire fee take. Ray has the understanding and knowledge to confirm the value is there along with supportive data. The reports must stand up in court reviewed by experts whether it’s a hearing or a in court room.

The Uniform Standards of Professional Appraisal Practice (USPAP) governs appraisal reviews and reports.  One of the standards is a clear concise and well written report so that the reader can understand the report.



We understand what makes a quality appraisal and what the most common deficiencies are.   Yes, maybe it’s a simple typo like everyone does while typing but each minor one or overlook factor can weaken the report.  A good solid report in the end is the objective.  I understand working with the appraiser is key. We are not adversaries.

Sometimes the reviewer notes issue in the comparable vs the subject property where the subject property sold for three times the current sales on the same street. They are located in a redevelopment zone and the appraiser lacks explanation on what has taken place. The reviewer digs a little further to answer that question. One simple phone call can possibility clear up the issue.  It’s called going the extra mile to help the appraiser and the reviewer to obtain a good report.

 At the same time, we recognize our competitors in our market are capable of doing a good job! Again, the objective is to give you the client a good report to accomplish your valuation objective.

No man is above the law and no man is below it: nor do we ask any man's permission when we ask him to obey it. Theodore Roosevelt


Appraisal review services residential and commercial - Call or text Ray Underhill @ 609-203-1194 or email him at


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