Red Door Appraisal Company

Two-to-Four Unit Residential Appraisal Field Review Report (2000A)

The Residential Appraisal Review Report (Form 2000A) is a five page form used to review a 2 to 4 unit property. The property under review may be located in a condominium, PUD, or cooperative development. A review appraiser uses this form to address the accuracy of the data in the appraisal report being reviewed and to develop an opinion on the appropriateness of the appraisal methods and techniques that the original appraiser used.

Question 6 on the form requires the review appraiser to report a conclusion as to whether the comparables used were the most similar to the subject. If the answer is "No", the reviewer must explain why the comparables actually used should not have been used. (See Guidance No. 7, on page 4 of the form.)

Question 13 on the form requires the review appraiser to determine whether or not the estimate of market value for the subject property was reasonable as of the effective date of the appraisal. If the reviewer does not believe the opinion of value in the original appraisal is not accurate as of the date of the original appraisal, Section II must be completed and a new value conclusion supported. The review appraiser will normally make certain assumptions regarding the condition of the subject and may rely on information contained in the report under review, unless there is evidence to the contrary.

There is no provision for use of a trainee or supervisory appraiser in the development of this review report. Please refer to the standards for the One-Unit Residential Appraisal Field Review Report (2000) above.