TouchvelocityAMC | Appraisal Management Company

Nationwide - United States

​​​​​​​TouchvelocityAMC

TOUCHVELOCITY​​​​​​​


APPRAISAL MANAGEMENT COMPANY


QUALITY CONTROL


TOUCHVELOCITY APPRAISERS WRITTEN APRRAISAL REPORTS MUST:

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1. Include a signed certification statement in accordance with SR C-3

2. State that the valuer has no present or prospective interest in the property that is a subject of this engagement and no personal interest with respect to the parties involved

3. State either that no one provided significant property appraisal assistance to the valuer sigining the certification, or state the name of each individual who provided such assistance

4. State the identity of the client or if the client requested anonymity, state that the client's identity is withheld but retained with the valuer's records

5. State the identity of any other intended user(s), by name or type, of the appraisal report

6. State the intended use of the appraisal report

7. Identify the the property involved in the apppraisal

8. State the property interest appraised

9. State the type of value and cite the source of its definition

10. State the effective date of the appraisal

11. State the date of the report

12. State the scope of work used to develop the appraisal

13. State the methods and techniques used to develop the opinions and conclusions

14. State the extent of any significant appraisal assistance provided to the valuer

15. State the opinion(s) and conclusion(s) reached

16. Clearly and conspicuously state all special assumptions and hypothetical conditions; and that their use might have affected the valuer's opinion(s) and conclusion(s)



TOUCHVELOCITY WRITTEN REVIEW REPORTS MUST:


SR B-1: Competency - In developing a review, a reviewer must:

(a) be aware of and understand methods and techniques that are necessary to produce credible assignment results

(b) not commit a substantial error of omission or commission that significantyly affects the review

(c) not make a series of errors that, considered individually, may not significantly affect the review but which, when considered in the aggregate, establish that the review is being rendered in a careless or negligent manner


SR B-2: Problem Identification - The reviewer must identify the review problem to be solved at the time of engagement. To identify the review problem, the reviewer must ascertain:

(a) the client and any other intended users

(b) the intended use of the report

(c) the objective of the review, including whether it will include the development of the reviewer's own opinion of value (in the case of a review of an appraisal) or the reviewer's own review opinion (in the case of a review of a review)

(d) the work under review, which may be a written or oral appraisal or review report, or portion thereof

(e) any special assumptions necessary in ther review

(f) other conditions of the engagement that affect the scope of work, including general assumptions and applicable laws, regulations, and guidelines


SR B-3: Scope of Work - The reviewer must determine the scope of work necessary to develop a review that is credible given its intended use. The scope of work for a review is appropriate when it meets:

(a) what the actions would be of another reviewer who possesses competency to prepare the same review

(b) the expectations of partieswho are regularly intended users of reviews under similar circumstances


SR B-4: Application of Methodology - The reviewer must:

(a) correctly employ methods and techniques necessary to produce a credible review

(b) support review opinions with relevant evidence and logic

(c) develop rationale for any disagreement with the data, analyses, opinions, or conclusions presented in the work under review

(d) when the reviewer's scope of work includes development of the reviewer's own opinion of value, comply with the requirements of Standard A


1. Include a signed certification statement in accordance with SR C-3

2. State that the reviewer has no present or porspective interest in the property that is a subject of the work under review and no personal interest with respect to the parties involved


  • Standard A:  An appraisal must be credible
  • STANDARD B:  A review must be credible
  • STANDARD C:  A report must be clear and not misleading