Independent Residential Appraisal Analysis
Appraisal Review Services
Independent review of residential appraisal reports for lenders, attorneys, government agencies, financial institutions, and private clients
An appraisal review evaluates the quality, credibility, support, and consistency of an existing appraisal report.
AREA Management Company coordinates appraisal review assignments throughout Alaska by connecting clients with qualified review appraisers selected for geographic competency, property experience, review qualifications, and assignment complexity.
Understanding the Service
What Is an Appraisal Review?
An appraisal review is an independent professional analysis of another appraiser's work.
The review appraiser evaluates whether the appraisal report is credible, adequately supported, internally consistent, and appropriate for its intended use. Depending on the scope of work, the reviewer may also develop an independent opinion of value.
Common Review Needs
When an Appraisal Review May Be Needed
Appraisal review services may help clients evaluate risk, resolve questions, support legal or financial decisions, and determine whether additional appraisal work is needed.
Underwriting and Quality Control
Evaluate appraisal support, consistency, market data, and compliance before or after a lending decision.
Internal Portfolio Review
Support financial institutions, investors, and asset managers reviewing appraisal quality within a loan or property portfolio.
Litigation and Dispute Support
Provide independent analysis of an appraisal used in a legal proceeding, settlement, property dispute, or contested valuation.
Agency and Compliance Review
Assist government agencies and public entities evaluating residential appraisal reports for a defined program or decision.
Independent Second Analysis
Help property owners, families, trustees, or financial advisors better understand the strengths and limitations of an existing appraisal.
Clarification and Reconsideration
Identify unsupported conclusions, missing explanations, inconsistent data, or areas where further analysis may be appropriate.
Review Analysis
What Does the Review Appraiser Evaluate?
The review scope depends on the intended use, review format, client requirements, available documents, and whether the assignment includes an independent opinion of value.
- Scope of work
- Intended use and intended users
- Property description
- Market area analysis
- Comparable sale selection
- Adjustments and support
- Highest and best use
- Market trends
- Reconciliation
- Internal consistency
- Report completeness
- Overall credibility
Review Options
Types of Appraisal Reviews
The appropriate review type depends on the question the client needs answered and the level of independent analysis required.
Report-Based Analysis
The review appraiser analyzes the appraisal report and available market data without physically inspecting the subject property.
Exterior or Property Observation
The assignment may include observation of the subject property, comparable sales, or surrounding market area in addition to analysis of the original report.
Independent Valuation Analysis
When required by the scope of work, the reviewer may develop an independent opinion of value rather than limiting the assignment to analysis of the original appraisal.
Important Distinction
Appraisal Review Versus a Second Appraisal
An appraisal review and a second appraisal are different assignments.
A review focuses on evaluating the quality and credibility of an existing appraisal. A second appraisal develops a separate opinion of value through a new appraisal assignment. The appropriate service depends on the client's intended use and the question that needs to be answered.
What to Expect
The Appraisal Review Process
Clear assignment instructions help ensure the review addresses the client's actual concern.
Submit the Report
Provide the appraisal report, property information, intended use, review question, and any supporting documents through the secure portal.
Define the Scope
The assignment is reviewed to determine the appropriate review type, reporting format, inspection requirement, and whether an independent value opinion is needed.
Independent Analysis
The review appraiser evaluates the report, relevant market data, reasoning, support, consistency, and compliance with the assignment requirements.
Secure Delivery
The completed review is delivered through the secure AppraisalScope portal with the reviewer's conclusions and supporting analysis.
Qualified Review Appraisers
Choosing the Right Reviewer
Review assignments require more than general appraisal experience. The review appraiser must understand the property type, market area, original assignment, and professional responsibilities involved in reviewing another appraiser's work.
Appraisal Review Questions
Frequently Asked Questions
Does an appraisal review produce a new value?
Not always. Some review assignments evaluate the credibility of the original appraisal without developing a separate opinion of value. Other assignments specifically require the reviewer to develop an independent value conclusion.
Can a homeowner order an appraisal review?
Yes. Property owners and other private clients may request a review, although the intended use, review question, and available documents should be clearly identified before the assignment begins.
Can a review appraiser change the original appraisal?
No. The review appraiser does not alter the original report. The reviewer develops an independent analysis and reports conclusions about the quality, support, consistency, and credibility of the original appraisal.
Is a field review always necessary?
No. Whether a property or exterior observation is needed depends on the intended use, review question, client requirements, property type, and scope of work.
How long does an appraisal review take?
Turnaround time depends on the review type, property location, report complexity, market-data availability, inspection requirements, and whether an independent opinion of value is included.
What should I provide with the review request?
Provide the complete appraisal report, property address, intended use, intended users, specific review concerns, relevant supporting documents, and any required review form or reporting instructions.
Begin Your Assignment
Need an Independent Appraisal Review?
Create a secure client account to submit the appraisal report and assignment details, or email AREA Management Company before ordering if you need help determining the appropriate review type.