Appraisal Review: Greer Advisors can review appraisals covering virtually all property types and most locations, including portfolio reviews. Appraisal review typically involves a desk review of a commercial appraisal report, although field reviews are available in certain locations. The review document can be on a client-provided template (with certain volume requirements) or on a Greer Advisors appraisal review template. An appraisal review completed on the Greer Advisors review template typically runs 20-plus pages long, and is one of the most-comprehensive reviews in the business. Two philosophies drive the review(s): 1) ensure the appraisal conclusions are credible and 2) provide a review document that is comprehensive enough so the client does not need to read the appraisal report. A Greer Advisors review summarizes the key physical and economic features of the property being appraised, summarizes the sales, rents, and the methodologies used to value the property. During the review process, the subject property and all comparables are geocoded (when addresses are noted in the appraisal). Data from the appraisal is databased, including the rent roll and Income/Expense forecast. The data extracted from the appraisal is also available to the client via a variety of data file types, e.g. XML, CSV, etc. The current appraisal review platform captures up to 10,000+/- fields per appraisal, with roughly 1,000 fields captured from a typical non-complex commercial appraisal. In addition to obtaining a comprehensive professional review from a third-party MAI, many clients find tremendous value in the database files, which can be incorporated into a variety of internal data systems.

Appraisal Management: For institutions that do not want to bear the fixed expense of a Chief Appraiser and related staff, Greer Advisors can provide appraisal management services, effectively acting as the appraisal department for a financial institution. Such services could include ensuring compliance with various regulations pertaining to appraisal, including selection of the appraisal panel, approval of the panel by the institution’s board (annual regulatory requirement), independence of the appraisal process, and oversight of the appraisal ordering/engagement and review process. Similarly, for institutions with pending MRAs (Material Remedial Action Letters) from regulatory bodies, Greer Advisors can help the institution work through the process of removing the MRA.

Appraisal Production: Additionally, Greer Advisors can provide appraisal services for a variety of needs, including purchase/sale, financing, litigation, and other needs. Greer Advisors may decline to appraisal certain properties due to professional conflicts, or insufficient resources pertaining to certain markets or property types. In such cases, Greer Advisors will attempt to provide referrals of appraisers capable of completing the assignment.