Additional Services

Appraisal Reviews

The Federal Reserve’s recent restatement emphasizes the need for “effective, independent real estate appraisal and evaluation programs.” Moreover, it underscores that those conducting appraisal reviews should possess the requisite knowledge and expertise to ensure compliance with the Federal Reserve’s appraisal regulations and guidelines. As professional Real Estate Appraisers at Granite Appraisal Group, we’re committed to delivering independent, competent, and professional appraisal review services that align with these guidelines

Appraisal reviews, as per the Federal Reserve’s directive, should scrutinize whether the appraisal or evaluation is pertinent for the transaction, reflective of the transaction’s risk, and ensures the collateral valuation is derived from a process that guarantees independence and quality. These reviews should also confirm that the appraisal or evaluation report is in line with the engagement letter, detailing the scope of the appraisal assignment. For transactions with higher risk or value, the Fed suggests some institutions supplement routine reviews with post-funding evaluations to help identify any potential valuation problems.

At Granite Appraisal Group, we align our services with our review clients’ forms and guidelines, and we’re proficient in using the four general Fannie Mae forms used for review services. These forms include the appraisal “desk” review, the “field” review, the “short” form, and the “narrative” form. Our team boasts expertise in all kinds of appraisal reviews, review procedures, and the responsibilities of review appraisers.

Understanding the essence of a quality appraisal, we’re adept at identifying common deficiencies, particularly in our local market. Equally, as professionals, we acknowledge that our competitors are also capable of producing quality work. As such, you can trust us to conduct ethical evaluations of appraisal reports conducted by others, in adherence to the Uniform Standards of Professional Appraisal Practice (USPAP) that govern both appraisal reviews and reports.

In a nutshell, at Granite Appraisal Group, we ensure our clients can rely on our independent judgment as we deliver professional, objective, and ethical appraisal review services. To learn more about our qualifications, expertise, and the array of services we offer, we invite you to explore our website.

Expert Witness Testimony

As professional Real Estate Appraisers at Granite Appraisal Group, we offer a comprehensive range of Real Estate Appraisal services, equipped with a wealth of experience in diverse property types. Our expertise extends to litigation support and provision of expert witness services. Our clientele, which comprises government agencies, tax entities, financial institutions, legal and accounting firms, among other businesses, have extensively benefitted from our expert testimony services. Often, our independent and substantiated analyses have facilitated clients to reach settlements without resorting to court proceedings.

Adhering to professional ethics, we, as appraisers, remain impartial in conducting a property appraisal. However, we are available to consult and guide you regarding the robustness of an appraisal presented by opposition parties. If required, we can undertake additional research and analysis to corroborate or dispute assumptions or conclusions.

Our vast experience includes handling diverse issues such as:

  • Valuation of “stigmatized” property
  • Retrospective valuation or valuation as of a date in the past
  • Valuation for condemnation and eminent domain cases
  • Impact on value for properties with a history of flood
  • Estate settlement
  • Value effect due to insect infestation
  • Valuation for diverse requirements including divorce, partnership, and taxation issues.

With a proven track record and extensive experience, we are equipped to undertake any appraisal assignment, confident that our appraisal values withstand the most rigorous scrutiny. Our commitment to precision and reliability remains unwavering in all our appraisal and valuation services.

Assessment Appeal Services

Here at Granite Appraisal Group, we are professionals adept at tackling Assessment Appeal Services.

Property tax is often determined by an ad valorem assessment of the property’s value in many jurisdictions. As a property owner, you might be taken aback when a notice of a tax increase arrives in your mailbox, and sometimes, it may appear that your property has been assessed too high.

While a simple phone call can often resolve these matters, there may be times when, despite a discussion with your local taxing authority, you still believe your property has been overvalued. That’s where the need for a professional, independent, third-party real estate appraiser emerges – and that’s where we step in.

Appealing assessments can be a complex task as the procedures vary as widely as the number of property taxing districts. Therefore, it’s vital to seek the assistance of a professional real estate appraisal firm like us, with the requisite experience and training in navigating the specifics of your particular jurisdiction.

It’s worth noting that while it’s advisable to conduct your own research before proceeding with a property assessment appeal, especially before deciding to hire a professional appraiser, we follow the Uniform Standards of Professional Appraisal Practice (USPAP). This means we can’t simply take your research and use it as-is in our independent evaluation. When you commission us for an assessment appeal, you’re requesting a comprehensive, independent, third-party professional appraisal report. As such, we conduct our own detailed assessment from start to finish. If your property has indeed been overvalued, an independent report like ours will often be more persuasive than any other evidence you might gather independently, but our effectiveness depends on our ability to work autonomously.

In certain cases, your assessment appeal might lead to a hearing where you will need the appraiser you’ve hired to testify on your behalf. Rest assured, at Granite Appraisal Group, we are fully equipped to deliver persuasive and professional testimonies at appeal hearings.

We invite you to explore our website for further information about our qualifications, expertise, and the range of services we offer.

Partial Interest Valuation

Often, the ownership of a property isn’t cut and dried. Bill Jones might own a property outright, by himself, unencumbered by liens or mortgages, leases or easements. But he might also own it as a “joint tenant” with his wife, Mrs. Jones. The Jones’ may lease some of the property to another party. They may have signed an agreement to give up any subsurface or mineral rights they have in the property in exchange for cash. There may be a restriction in the Jones’ deed stipulating that the property must never contain a structure more than two stories in height. There are a thousand other ways the 100 percent “bundle” of rights to a parcel of property might be distributed.

Anything less than full ownership — called “fee simple” in deeds and conveyances — by a single person or entity is a “partial interest.”  Here at Granite Appraisal Group, we appraise partial interests all the time. It’s a specialty and discipline that takes unique expertise and training, and you can be assured we’re well qualified to deliver an opinion of value on a partial interest.

When might you need a partial interest valuation?

In divorce or disillusionment of a partnership proceedings, you might need to fairly value one party’s interest in real property. Sometimes, particularly in partnership situations, it’s not simply a matter of appraising the entire property and dividing it by the number of owners. A fractional share of property may sell at a discount to reflect lack of control, costs of and barriers to sale. You need the judgment of a professional appraiser.

You might need the value of rents or leases on a property, but not the underlying value of the real estate. This is more complicated than it sounds, and isn’t just a matter of how much a tenant is currently paying. A professional, well trained appraiser will examine rents in the market to determine fair market value of rents or leases. If a tenant is paying below market value, they might be able to sublet at a profit. If they’re paying over market value, their likelihood of moving on when the lease term is up increases. There are many things requiring the professional judgment of an appraiser that factor into the calculation.

You might need to know the value of a proposed or existing easement.  An easement is a right to use property, without owning it. How much is it worth to your neighbor to build a driveway across part of your property for entry to and exit from his property, rather than an alternate route that may be more costly to build?

You might need an appraisal of your (or your customer’s) interest in a timeshare or condominium.

Because there are so many ways the “bundle” of rights to property can be divvied up, when you order an appraisal you might need a partial interest valuation and not even know it. You should be sure the company you hire is qualified to perform partial interest valuations. Here at Granite Appraisal Group, we are. Browse our website to learn more about our qualifications, expertise and services offered.

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