Real Estate Appraisal Services

The vendor is required to provide real estate appraisal services for as-needed.
- Tasks include property inspections, market research, employing valuation methodologies, preparing detailed appraisal reports, offering review appraisal services, maintaining compliance, and ensuring quality assurance.
- Appraisers will also provide consultation and maintain open communication throughout the process.
- Appraisal services:
• Appraisers must be familiar with and conduct appraisal work within the city and all of its neighborhoods, wards, and districts.
• Appraisers should be familiar and conduct appraisal work in accordance with:
o The uniform relocation assistance and real property acquisition policies
o 49 cfr part 24
o The uniform act guide
o HUD handbook 1378: tenant assistance, relocation and real property acquisition handbook
- Review appraisal services:
1. The review appraiser will be asked to examine the presentation and analysis of market information provided by the appraisal to determine if:
• It meets the definition of an appraisal found in 49 CFR 24.2 (a) (3);
• It meets the appraisal requirements found in 49 CFR 24.103; and
• The appraisal supports the appraiser’s opinion of value.
2. The review appraiser must conclude one of the three (3) options regarding the appraisal:
• Recommend the appraisal as the basis for just compensation;
• Accept the report as technically accurate, but not the basis for just compensation; not accept the report.