What is a real estate evaluation?

Andy Diehl -

For purposes of these questions and answers, “evaluation” means an “evaluation of the value of real estate serving as collateral for a loan made by a federally regulated financial institution or to any evaluation of the value of the assets of a trust held by the institution; provided, that:

(A) The applicable federal regulator does not require an appraisal by a state-licensed or state-certified appraiser for the loan or trust;

(B) The evaluation is used solely by the financial institutions in their records to document the collateral or asset value;

(C) The evaluation shall be labeled on its face “this is not an appraisal”; and

(D) Individuals performing these evaluations may be compensated for their services.” Tenn. Code Ann. § 62-39-104(d)

Interagency Appraisal and Evaluation Guidelines - https://www.fdic.gov/regulations/laws/rules/5000-4800.html

Contact an agent. Submit a request