Residential = 1 - 4 Family

Additional Residential Appraisal Information

What are the rules on a 2nd appraisal?

Proposed Construction = Appraisal Only, any loan amount

Residential properties may require an appraisal under certain circumstances, see 

Residential Appraisal Tree

 & 

Residential Property Appraisal Ordering Decision Tree for RIMS (know what form to request).
IF
An Evaluation is permissible, may use Just Market Value by County Assessor. HELOCs may use Just Market Value by Property Appraiser/Tax Assessor, Evaluation by Third Party or Appraisal. Confirm appropriate method using HELOC  

FAQ grid.
OR
Order an Evaluation from third party vendor.

Fee Schedule with TrueValuation.
 

May be reviewed locally.

Appraisal Required 

See RIMS Manual on How to order an Appraisal & Residential Property Appraisal Ordering Decision Tree for RIMS (know what form to request)

May be reviewed locally

Appraisal Required 

See RIMS Manual on How to order an Appraisal & 

Residential Property Appraisal Ordering Decision Tree for RIMS (know what form to request).
 

May be reviewed locally

Appraisal Required

Loans at this transaction level will be ordered and reviewed by Credit Administration. If the loan encumbers multiple properties, the Real Estate Analyst may determine if they can be ordered & reviewed locally. 

See Appraisal Policy.

Commercial, Retail, Office, Industrial, or Other Property not listed as Complex

Commercial = NOT 1 to 4 Family

Evaluations may be completed; may use 

Conclusion of Value Support

OR
 

Order an Evaluation from third party vendor.

Fee Schedule with TrueValuation.
 

May be reviewed locally

Commercial properties may require an appraisal under certain circumstances, see 

Commercial Appraisal Tree.

Order an Evaluation from third party vendor. Fee Schedule with TrueValuation (must be non-complex).
OR
Order a Restricted Use Appraisal from an Appraiser. 

See 

RIMS Manual on How to order an Appraisal.

If SBA see 

SBA Standard Operating Procedures (Appraisal Requirements) & 

SBA Appraisal Ordering Help.
 

May be reviewed locally

Appraisal Required – Summary Format
 

See RIMS Manual on How to order an Appraisal.

If SBA see 

SBA Standard Operating Procedures

 (Appraisal Requirements) & SBA Appraisal Ordering Help.
 

May be reviewed locally unless circumstances are such that the Real Estate Analyst needs to be involved.

Appraisal Required – Summary OR Comprehensive Format

Loans at this transaction level will be ordered and reviewed by Credit Administration. Complexity of project will determine level of reporting requested by Real Estate Analyst to reflect risk and complexity of assignment. Same multi-parcel rules apply here as above.

If SBA see 

SBA Standard Operating Procedures (Appraisal Requirements) & SBA Appraisal Ordering Help.

Commercial Complex Properties

How do I know if my property is complex?

Order an Evaluation from third party vendor.

Fee Schedule with TrueValuation.

OR

Order a Restricted Use Appraisal from an Appraiser. 

See 

RIMS Manual on How to order an Appraisal.

May be reviewed locally

Order a Restricted Use Appraisal from an Appraiser. 

See 

RIMS Manual on How to order an Appraisal.

OR

Order a Summary Appraisal Report from an Appraiser

If SBA see 

SBA Standard Operating Procedures

(Appraisal Requirements) & SBA Appraisal Ordering Help.

May be reviewed locally

Appraisal Required

Order a Summary Appraisal Report from an Appraiser.

See 

RIMS Manual on How to order an Appraisal.

If SBA see 

SBA Standard Operating Procedures

(Appraisal Requirements) & SBA Appraisal Ordering Help.

May be reviewed locally unless circumstances are such that the Real Estate Analyst needs to be involved.

Appraisal Required – Summary OR Comprehensive Format

Complexity of project will determine level of reporting requested by Real Estate Analyst to reflect risk and complexity of assignment. Same multi-parcel rules apply here as above.

If SBA see 

SBA Standard Operating Procedures (Appraisal Requirements) & SBA Appraisal Ordering Help.