Appraisal Review Requirements
The LPA shall have an appraisal review process that includes as a minimum:
- A qualified review appraiser shall examine all appraisals to assure that they meet TxDOT appraisal requirements and shall, prior to acceptance, seek correction or revision of those that do not.
- If the review appraiser is unable to approve or recommend approval of an appraisal as adequate support for compensation, the review appraiser may develop appraisal documentation to support a new value conclusion or recommend a new appraisal be ordered.
- The review appraiser's certification and the recommended or approved value of the property shall be set forth in a signed written statement that identifies the appraisal reports reviewed and explains the basis for such determination. Any damages or enhancements to any remaining property shall also be identified in the statement.
- The environmental condition of the property.
The review appraiser plays an important role in the acquisition process and is charged with a great deal of responsibility. Persons assigned this task should be thoroughly qualified by education and experience to review appraisal and specialty reports to ensure that the approved estimate of fair market value is reasonably supported. Review appraisers are also responsible for obtaining corrections and/or revisions to reports when necessary. For details concerning specific educational and experience qualifications and for assistance in selecting qualified review appraisers, the LPA is encouraged to contact TxDOT right of way personnel.