Appraisal Review Services
‘An appraisal review is an appraisal of an appraisal’
Appraisal review is the process of evaluating the accuracy and completeness of an appraisal report. The review is typically performed by an independent third party, such as EDS, to ensure that the appraisal meets industry standards and regulatory requirements. The review process usually includes: -Verifying that the appraiser is qualified and licensed -Checking that the appraisal report includes all the required information -Ensuring that the appraiser has followed the appropriate methodology -Evaluating the comparables used in the report -Assessing the reasonableness of the valuation -Checking for any errors or omissions -Ensuring that the report complies with the USPAP and other regulatory requirements.
An appraisal review can be done for a variety of reasons, such as to comply with regulatory requirements, to ensure the quality and accuracy of the appraisal, or to resolve disputes between parties involved in a transaction. The goal of the review is to ensure that the appraisal is accurate, unbiased, and in compliance with industry standards.
EDS pioneered the appraisal review profession and directed the development, writing, and implementation of the appraisal review Principals of Valuation and best practices that are taught to and in use today by professional valuers, legal experts, and government agencies throughout the world. Our appraisal review services have allowed our clients to prevail in billions of dollars at issue, and our appraisal reviews have been cited by U.S. regulators as “The measure by which all appraisal reviews should be judged.”
Appraisal Review Services require highly-trained—highly-skilled—highly-credentialed discipline-specific and multidisciplinary appraisal reviewers with decades of experience who are specifically trained and accredited in providing Appraisal Review Services and in developing and reporting differing opinions-of-value, rebuttal appraisals, and in providing appraisal expert witness testimony services.
EDS pioneered the appraisal review profession—the cornerstone of appraisal expert witness services— and directed the development, writing, and implementation of the appraisal review Principals of Valuation and best practices that are taught to and in use today by professional valuers, legal experts, and government agencies throughout-the-world.
We hold the only Royal Institution of Chartered Surveyors (RICS) Appraisal Expert Witness Accreditation Service (EWAS) and Appraisal Dispute Resolution Service (DRS) Certifications in the United States and all of the Americas—one of only a handful of such Appraisal Expert Witness and Appraisal Dispute Resolution Certifications in the world.
EDS holds the only RICS Expert Witness Accreditation Service and Valuation Dispute Resolution Service Certifications
in the United States and all of the Americas—one of only a handful of such Certifications in the world.
An Elite-Rated member of the peer-voted Super Appraisers® Global Network of internationally-recognized appraisal luminaries.
Prevailing in billions-of-dollars at issue in some of the world’s most important—high-profile—and valuable—valuation litigation.
Our discipline-specific and multidisciplinary review appraisers are internationally accredited ASA/MAI/RICS appraisal instructors and well-published luminaries in the global valuation community. They include Uniform Standards of Professional Appraisal Practice (USPAP) and International Valuation Standards (IVS) and RICS ‘Red Book’ instructors, Value Adjustment Board (VAB) Magistrates, and former state and federal appraisal regulatory compliance officers.
We provide appraisal reviews in all disciplines of appraisal and asset classes, tangible and intangible, i.e., Real Property, Business Valuation, Intellectual Property, Personal Property, and Machinery and Technical Services to clients throughout the world. EDS specializes in providing appraisal expert witness testimony and litigation support services to attorneys and law firms and appraisal-related Alternative Dispute Resolution (ADR) services as Arbitrator, Mediator, Umpire, and Referee.
Our appraisal reviews analyze, evaluate and report matters pertinent to the subject appraisal: (1) Completeness of the material under review, (2) Adequacy and relevance of the data, including the propriety of adjustments (if any) to the data, (3) Appropriateness of the appraisal methods and techniques used, (4) Whether the analyses, opinions, and conclusions are appropriate and reasonable, i.e., credible, (5) conformity with applicable appraisal development and reporting standards required of the Uniform Standards of Professional Appraisal Practice (USPAP) / International Valuations Standards (IVS) / RICS Red Book, and Basel Accords, (6) the professional qualifications and licensing requirements of the reporting appraiser(s), (7) compliance with applicable state and federal-U.S. Regulatory 75 FR 77450 Interagency Appraisal and Evaluation Guidelines, (8) compliance with any and all other applicable standards, guidelines, rules, and regulations that apply as of the Effective Date of the subject appraisal under review.
EDS appraisal reviews are independent and objective and render credible findings that will withstand challenges and scrutiny from peer reviews, regulatory, judicial, and taxing authorities.
The Intended Use and Scope-of-Work of the appraisal review determine the level of complexity and the cost of the report.
REAL ESTATE APPRAISAL REVIEW — COMMERCIAL / HIGH-VALUE RESIDENTIAL
Real property is defined as all the interests, benefits, rights, and encumbrances inherent in the ownership of the physical real estate. There are several specialties in real property: urban, residential, rural, timber, and ad valorem (property tax). Real property appraisal reviews include services for use in real estate acquisition and disposition, lending, insurance, estate taxes, property taxes, eminent domain (condemnation), conservation easements, and leasehold interests.
BUSINESS VALUATION APPRAISAL REVIEW — ESOP’ / ENTERPRISE VALUE / BUSINESS INTERRUPTION / ECONOMIC DAMAGES / APPRAISAL-RIGHTS (ARBITRAGE) / ASSET-BACKED SECURITIES:
EDS’ internationally accredited ASA/RICS Business Valuation experts review appraisals of the value of businesses, business ownership interests, ESOPs, and securities for businesses of all sizes. We also review the value of specific intangible business assets such as patents, trademarks, employment agreements, copyrights, and goodwill.
INTELLECTUAL PROPERTY APPRAISAL REVIEW — PATENTS / TRADEMARKS
Intellectual property is any product of the human intellect that the law protects from unauthorized use by others. Intellectual property is traditionally comprised of four categories: patents, copyrights, trademarks, and trade secrets.
MACHINERY AND EQUIPMENT AND TECHNICAL SERVICES APPRAISAL REVIEW
EDS’ internationally accredited Machinery and Technical Services experts perform appraisal reviews of market or liquidation value appraisals for various purposes such as sale, acquisition, ad valorem tax, eminent domain, conservation easement, collateralization, and insurance or residual forecasting.
PERSONAL PROPERTY APPRAISAL REVIEW
EDS’ internationally accredited Personal Property appraisal experts provide appraisal reviews of tangible, movable property that is utilitarian, collectible, decorative, or a combination of the three for specific purposes such as insurance, estate tax, damage claims, donation, sale, dissolution of marriage, and equitable distribution.
MULTIDISCIPLINARY APPRAISAL REVIEWS
A comprehensive appraisal review involves two or more components of Real Property, Business Valuation, Intellectual Property, Machinery and Equipment and Technical Services, and Personal Property.