Dictionary of Real Estate Terms: appraisal review
appraisal review
a report that comments on the completeness and apparent accuracy of an appraisal report The principal purpose of some reviews is to ensure compliance with technical rules such as USPAP; other reviews focus on the value estimate. The review may be presented as a narrative or a checklist.
Example: West Side Savings had a valuable tract of land appraised. To feel assured that the appraiser had appropriately estimated value and complied with USPAP, West Side Savings had an appraisal review performed by an MAI.
