What is the primary purpose of a review appraiser?

The primary purpose of a review appraiser is to evaluate whether the appraisal meets established standards and guidelines. This involves assessing the quality of the work completed by the original appraiser, ensuring that it adheres to relevant appraisal practices, regulatory requirements, and industry standards. The review appraiser examines the methodology, data used, conclusions drawn, and overall integrity of the appraisal to confirm that the findings are reasonable and well-supported.

In this context, standards might include compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) or other applicable regulations. By focusing on adherence to these standards, the review appraiser plays a crucial role in maintaining the credibility and reliability of the appraisal process, which ultimately supports informed decision-making in real estate transactions.

Other options, while related to the appraisal process, do not capture the primary role of a review appraiser as accurately. Providing a second opinion or reassessing market value may be part of an appraisal review process, but the essence of the review appraiser’s function lies in ensuring standards are met rather than solely offering an opinion or re-evaluating the property’s value. Likewise, increasing the credibility of the appraisal is a beneficial outcome but is not the primary focus of the review process itself.