Appraisal Reviews-Specialty in Condemnation 




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 in a way 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 reviewed residential and commercial 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 defendable report and focus on the crucial issues that support value. Not to get hung up on problems that don't affect value.



  • Include supportive market data and 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 are that value is not supported or help with additional Sales.



  •  The 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 a fair market value.

Condemnation Reviews:

Ray has had extensive experience reviewing condemnation reviews, working for the NJDOT since 2004, and retired as of July 1, 2023, in both reviewing and appraising. The work is detail-oriented and requires in-depth research.  Even with smaller takings, the principals remain the same, whether it's an easement on the property or an entire fee taking. Ray has the understanding and knowledge to confirm the value, along with supportive data. The reports must stand up in court and reviewed by experts, whether in a hearing or a courtroom.
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 it.

 We understand what makes a quality appraisal and the most common deficiencies.   Yes, maybe it's a simple typo like everyone makes while typing, but each minor or overlooked factor can weaken the report.  An excellent solid report, in the end, is the objective.  I understand working with the appraiser is critical. We are not adversaries.

Sometimes, the reviewer notes issues 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 does not explain what happened. The reviewer digs a little further to answer that question. One simple phone call can 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 can do a good job! Again, the objective is to give the client an excellent 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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