Appraisal Institute releases new book on the appraisal review process

A new book published by the Appraisal Institute provides practical instruction on the appraisal review process and helps promote greater understanding between reviewers and appraisers. The Appraisal Institute is the nation’s largest organization of real estate appraisers. “Appraising the Appraisal: The Art of Appraisal Review,” second edition, is written by Richard C. Sorenson, MAI. He describes common deficiencies in appraisal reports and offers tips for preparing careful and constructive appraisal reviews that can be applied by appraisers, lenders and other professionals. The guide includes updated information on scope of work and data verification, real-world examples that highlight the qualities of both effective and ineffective appraisal reports, a new case study, handy checklists and sample review forms. Sorenson is the principal of Appraisal Management Consultants, a firm that assists financial institutions with appraisal review, real estate valuation management and training. Sorenson was previously with First Chicago Bank (1958-1996), now Bank One, in various appraisal and management positions and was the 1995 national president of the Appraisal Institute. He teaches appraisal courses and commercial and residential review seminars and has published numerous articles in appraisal and banking journals. For more information, visit www.appraisalinstitute.org.