What is the primary function of the appraisal reviewer?

The primary function of the appraisal reviewer is to form an opinion regarding the adequacy and appropriateness of the appraisal report. This entails a thorough evaluation of the appraisal process, methodologies, and conclusions drawn by the appraiser. The reviewer assesses whether the appraisal adheres to relevant standards, such as the Uniform Standards of Professional Appraisal Practice (USPAP), and whether the analysis presented is logical and supported by sufficient data.

In this role, the reviewer looks for potential issues such as inaccuracies in data, misapplication of appraisal methods, or failure to consider relevant market conditions. By ensuring that the appraisal is sound and meets all necessary criteria, the reviewer plays a crucial role in the integrity of the valuation process, which is fundamental when the report influences decisions related to lending or investment.

The other options focus on functions tied more closely to the process of forming a value opinion directly or granting approval without the critical analysis expected from a reviewer. Approving or forming an opinion about the value itself is not the primary role, as these tasks are typically the responsibility of the appraiser rather than the reviewer, who serves as a quality control check.