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Usually, this is a routine procedure that the original appraiser barely notices. Sometimes, the review appraiser will come back with requests for extra information, or doubts, that the original appraiser might find annoying.
However, there is a difference. Performance reviews tend to have a development bias while appraisals focus more on achievement of objectives \u2013 in reality we need to balance both, which is something the marketing jargon doesn't usually explain!
A URAR form, also known as Fannie Mae Form 1004, contains information needed to complete a full appraisal of a property using three primary approaches to determine value: cost approach, sales comparison approach and income approach.
While Electronic Reviews are available at warp speed or usually in less than 30 min. and Desk Reviews can be performed usually within one day, Field Reviews, like appraisals, can take four or five days to complete, sometimes more.
An appraisal review serves as a tool in measuring the credibility of the report by determining whether it supports a relevant development process. The review serves as a test of reasonableness to see if the methods and techniques used are appropriate to the assignment.
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People also ask

What is a Small Residential Income Property Appraisal Report (Form 1025)? This is the industry-standard appraisal report type for 2-4 unit residential properties. It is the most commonly used report format for two to four unit residential income property appraisals.
This report form is designed to report an appraisal of a two- to four-unit property, including a two- to four-unit property in a planned unit development (PUD).
There are four home appraisal types for the mortgage loan process. The four types are the full appraisal, exterior-only appraisal, the rental analysis, and the broker price opinion. A full appraisal is the most common type of appraisal.
The review appraiser must, at a minimum: (1) read the entire appraisal report under review, (2) perform a visual inspection of the exterior areas of the subject property from at least the street, (3) inspect the neighborhood, (4) inspect each of the comparable sales from at least the street, (5) perform data research ...
An Individual Condominium Unit Appraisal Report (ICUAR) is for appraisals of one-unit properties in condo projects based on interior and exterior property inspections. Also known as Fannie Mae Form 1073, appraisals reported on this form must be completed in accordance with the UAD Specification.

commercial appraisal review form 4002