What is the primary purpose of conducting a desk review of an appraisal?

The primary purpose of conducting a desk review of an appraisal is to provide a critical assessment of the appraisal without the need for a site visit. This type of review focuses on evaluating the accuracy and consistency of the appraisal report based on the information and data presented. It allows the reviewer to examine the methodologies used, the data sources, and the conclusions drawn by the appraiser while ensuring that they align with industry standards and best practices.

A desk review seeks to identify any discrepancies, biases, or errors that may exist in the appraisal, thereby helping to ensure that the valuation is credible and reliable. This process is particularly important in commercial appraisals, where the financial implications can be significant, and the accuracy of the appraisal is paramount.

The other options provided do not capture the essence of a desk review. Hiring a new appraiser focuses on personnel decisions rather than appraisal assessment. Summarizing the report in simple terms does not convey the critical evaluation aspect of a desk review. Approving the appraisal regardless of details contradicts the purpose of conducting a review, which requires a thorough analysis to ensure quality and reliability.