Chapter 5: Appraisal ReviewAnchor: #CACEBBBG
Section 1: Appraisal Review Requirements
The review appraiser shall review appraisal reports for the purposes of establishing compensation and eminent domain purposes for TxDOT. The appraiser then will recommend the appraisal reports for approval or acceptance to ROW PD, by use of the form ROW-A-10 Tabulation of Values which serves as the appraisal review report for the reviewer.
The appraisal reviews of appraisal reports for TxDOT will be performed within the requirements of the appraisal standards stated in Chapter 3 Valuation - Legal Aspects & Policy; Standard 3: Appraisal Review, Development and Reporting of USPAP and Standard C of Standards of Valuation Practice (Uniform Appraisal Standards for Federal Land Acquisitions). Recognized methods and techniques of credible appraisal reports and reviews which are taught in appraisal courses and found in texts and publications should also be a reference for the review appraiser. Appraisal reviews performed within or for TxDOT that require a conclusion, approval, agreement or release of a value shall constitute a “technical review” and will comply with the related requirements. Appraisal reviews which do not result in the consideration of values and are more related to business decisions are “administrative reviews” which do not require compliance with the above appraisal standards.