Appraisal Reviews

When you initially get an appraisal for a residential or commercial real estate property, you don’t have to take that appraisal’s opinion as ironclad. In fact, it’s oftentimes valuable to get a second opinion, particularly for commercial real estate appraisals. This is standard practice to ensure that your property is properly evaluated.

Whether you are a property buyer or seller, an appraisal review can be important when:

  • Purchasing a new commercial or residential property. Reviewing an initial appraisal for comprehensiveness, accuracy, and integrity is important so you don’t spend more money on a property that isn’t worth your offer or bid
  • Selling a residential or commercial property. Similarly, you should hire Maxwell, Hendry & Simmons to review a former property appraisal to make sure that you list your property for a fair price.

Appraisal reviews are important because there can be inherent bias from even the most experienced, licensed professional appraisers from time to time. The last thing you want is a property appraisal that leads you to sell your property for less money than it deserves or to spend more money on a property that should be valued much lower than it currently is.

You may additionally wish to order an appraisal review if the other party in a real estate transaction had full control over the initial appraisal. This is a core part of due diligence and a way to prevent yourself from being taken advantage of, particularly in business transactions.

Maxwell, Hendry & Simmons’s appraisal reviews leverage our extensive experience. Each appraisal review includes steps such as:

  • A step-by-step review of an initial appraisal report to make sure it adheres to USPAP and FIRREA requirements, plus your individual or personal guidelines
  • A detailed review of data, data adjustments, methodologies for valuation, and valuation analyses to determine whether the evaluation report is accurate and reasonable
  • Identification of discrepancies, deficiencies, or errors made in the initial appraisal report

Our appraisal reviews can further be helpful when supporting dispute resolution or litigation matters, and they can reinforce your confidence and claims if required for litigation. Contact us today to learn more.

Our Services

Maxwell, Hendry & Simmons is a valuation services company with a core competency in real estate market analysis. We perform appraisals and consulting services for both residential and commercial properties. While many individuals think of real estate appraisal only in the context of financing, there are many situations that call for the professional opinion of a licensed real estate appraiser. Our mission is to serve as expert real estate problem solvers for our clients. Contact us today to get started working with one of the most trusted firms in Florida.