What is the primary purpose of an appraisal review?

The primary purpose of an appraisal review is to provide oversight and ensure that appraisals meet established standards. This process involves evaluating the methodologies and conclusions reached in the initial appraisal to verify that they adhere to relevant guidelines, regulations, and professional standards.

Appraisal reviews are critical for maintaining the integrity of the appraisal process, as they help to ensure that appraisal reports are accurate, unbiased, and reliable. By conducting a thorough review, appraisers can identify any potential errors, inconsistencies, or areas that may require further analysis, thereby enhancing the overall quality of the appraisal work.

The other options reflect activities that may be related to real estate but do not capture the central aim of an appraisal review. Providing a monetary value for properties focuses on the actual appraisal process itself rather than the review of its quality. Facilitating the sale of a property pertains more to the practices of real estate agents and marketing efforts than to the evaluation of appraisals. Assessing market trends deals with broader market analysis rather than the specific scrutiny of appraisal reports. Thus, the review process is distinct in its focus on ensuring compliance and maintaining standards in appraisals.