Michael Ital…, Real Estate Pro in Aliso Viejo, CA

can an appraiser comment on another apraiser's appraisal?

Asked by Michael Italia, Aliso Viejo, CA Mon Apr 4, 2011

Help the community by answering this question:


I you are asking if an appraiser can informally comment, the answer would be yes provided that you had that type of relationship, and did not wish to actually hire an additionally appraiser for a second opinion. Normally, however, that would only occur in the instance of a review appraiser, hired by the lender to specifically review the work of another appraiser, either with a field review, where they actually go out to the property or a desk review where they just review the numbers.
0 votes Thank Flag Link Tue Apr 5, 2011
I have had clients that were trying to refinance, experience the all too familiar situation where the value comes in lower than expected. As a DRE licensed RE agent as well as a loan officer, I obviously did a CMA prior to moving forward with the refi, (a very good reason to only use DRE licensed loan officers in CA) so I have a good idea what property values are. When this happens and I believe the appraisal to be in error, I have sought the advice of a licensed appraiser to assist me with the preparation of an appraisal rebuttal and have in fact been successful at obtaining more value.

So my long-winded answer is; yes.
0 votes Thank Flag Link Mon Apr 4, 2011
Only as a part of an appraisal review. The reviewer must be hired by the reciepient of the appraisal.
Web Reference: http://kobicosta.com
0 votes Thank Flag Link Mon Apr 4, 2011
Yes, lenders often require an appraisal desk review. This is effectively where another appraise reviews an appraisal report and comments on any issues, deficiencies, etc. You can google: URAR appraisal desk review to download a copy of the requisite form that is filled out by the review appraiser.
0 votes Thank Flag Link Mon Apr 4, 2011
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