Sales and support line

(877) 363-6653

Serving Orange, Riverside
and San Diego County
since 1990

Field reviews cost $250 per appraisal

A field review is the most effective way to ensure that the original appraisal is credible, supported by market evidence and has resulted in an accurate appraisal value.

Field reviews include an exterior inspection of the subject property and all comparables.

A field review includes both the reassessment of another appraiser's report and an inspection of the subject property and the comparables utilized in the original report.

The review appraiser looks for inconsistencies in the report.  A market analysis is conducted to ensure that the comparables were the best available and that the adjustments appear justified and supportable.  The subject and the comparables are inspected from the street to confirm that the descriptions and amenity details (i.e. view) were accurately reported.

THE FIELD REVIEW APPRAISAL PROCESS  The most intensive scrutiny that can be given an appraisal report is a field review.  Not only is the entire report reviewed for accuracy, consistency and credibility but the subject property and all comparables are inspected from the exterior by the review appraiser to ensure that they have been represented accurately in the appraisal report.

The review appraiser analyzes every section of the appraisal report, including the neighborhood characteristics, the property description, the comparable adjustments and the final appraised value.  The review appraiser conducts an independent market analysis to verify that the best comparables were utilized.  If other more relevant market data is found, these properties incorporated into the field review report as comparables and are adjusted to determine their impact on the subject's market value.

An appraisal report is a subjective opinion of value that is determined using industry-standard techniques in accordance with USPAP (Uniform Standards of Professional Appraisal Practice) standards.  It would not be unusual to ask three appraisers to determine the market value of a property only to receive three different valuations.  They should be close in value, but they won't be identical.  Because there is an inherent subjectivity in the appraisal process, the field appraiser must balance their diligence with an appreciation for the original appraiser's perspective.  It is usually only when there are gross inaccuracies, oversights or outright fraud that a field reviewer renders a value opinion that is significantly different from that contained in the original appraisal.

Therefore, the field review is the ideal tool for determining an appraiser's competency and their adherence to accepted appraisal standards.  Accordingly, no decision should ever be made to remove an appraiser from a lender's panel or otherwise sanction an appraiser without first conducting a field review by an impartial third party.

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