‘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 appraisal review is typically performed by a qualified independent third-party appraiser, such as EDS, to ensure that the appraisal meets industry standards and regulatory requirements. The appraisal 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 Uniform Standards of Professional Appraisal Practice (USPAP) and/or International Valuation Standards (IVS) and other regulatory requirements.
Appraisal Review Services require highly-trained—highly-skilled—highly-credentialed discipline-specific and multidisciplinary review appraisers with decades of experience who are specifically trained and accredited in providing Appraisal Reviews and in developing and reporting differing opinions-of-value, rebuttal appraisals, and in providing appraisal expert-witness testimony and litigation-support services.
EDS pioneered the Appraisal Review profession—the cornerstone of appraisal expert-witness testimony and litigation-support 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. 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”.
We hold the only Royal Institution of Chartered Surveyors (RICS) Expert Witness Accreditation Service (EWAS) and Dispute Resolution Service (DRS) Certifications in the United States and all of the Americas—one of only a handful of such Expert Witness and Dispute Resolution Certifications in the world.
EDS holds the only RICS Expert Witness Accreditation Service (EWAS) and Dispute Resolution Service (DRS) Certifications
in the Western Hemisphere—one of only a handful of such Certifications in the world.
EDS is an Elite-Rated member of the peer-voted Super Appraisers® Global Network of internationally-recognized appraisal luminaries.
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 appraisal review is to ensure that the subject appraisal is accurate, unbiased, and in compliance with industry standards.
Our discipline-specific and multidisciplinary review appraisers are internationally accredited ASA/MAI/RICS appraisal instructors—all well-published luminaries in the global valuation community. They include USPAP and 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 e.g., 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 such as Appraisal Umpire Services, Arbitration, Mediation, and as 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.
Engaging the correct appraisal reviewer is critical. EDS’ unparalleled level of appraisal review expertise is recognized and appreciated in boardrooms and courtrooms throughout the world, and U.S. regulators have cited our body of work as “The measure by which all appraisal reviews should be judged”.
We would welcome the opportunity to bring this level of appraisal review expertise to you.