Property Valuation
Iowa's appraisal review process ensures that:
AThe IREC approves all residential appraisals
BLenders, clients, or supervisory appraisers can evaluate the adequacy and appropriateness of an appraisal's analysis and conclusions✓ Correct
CAll Iowa appraisals are performed by state employees
DIowa county assessors review all private appraisals
Explanation
Appraisal review (a USPAP Standard 3 function) allows qualified reviewers to assess whether an appraisal is adequate, credible, and conforms to applicable requirements. Lenders use appraisal reviews to ensure compliance before funding loans.
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