An evaluation is an alternative to an appraisal for use in relation to certain Federally Regulated credit decisions.
Per the Federal Register, an evaluation must:
Identify the location of the property.
- Provide a description of the property and its current and projected use.
- Provide an estimate of the property’s “market value” in its actual physical condition, use and zoning designation as of the effective date of the evaluation (that is, the date that the analysis was completed), with any limiting conditions.
- Describe the method(s) the evaluator used to confirm the property’s actual physical condition and the extent to which an inspection was performed.
- Describe the analysis that was performed and the supporting information that was used in evaluating the property.
- Describe the supplemental information that was considered when using an analytical method or technological tool.
- Indicate all source(s) of information used in the analysis, as applicable, to value the property, including:
- External data sources (such as market sales databases and public tax and land records);
- Property-specific data (such as previous sales data for the subject property, tax assessment data, and comparable sales information);
- Evidence of a property inspection;
- Photos of the property;
- Description of the neighborhood; or
- Local market conditions.
- Include information on the preparer when an evaluation is performed by a person, such as the name and contact information, and signature (electronic or other legally permissible signature) of the preparer.
All of TrueValuation USA’s Evaluation reports are in full compliance with the 2010 Inter Agency Guidelines and each report provides supplemental information which add to the overall credibility and utility of the report in supporting a lending institution’s credit decision.
We are happy to provide customization to any report to address any specific client guidelines including insurable value estimates, liquidation values, etc.
Contact Us Now!
We pride ourselves on a timely, thorough, and credible analysis of each piece of real estate.
We would greatly appreciate the opportunity to meet with you or your counterparts in person or via webinar at your convenience.