[Code of Federal Regulations]

[Title 43, Volume 2]

[Revised as of October 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 43CFR2201.3-4]



[Page 66]

 

                    TITLE 43--PUBLIC LANDS: INTERIOR

 

    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR

 

PART 2200_EXCHANGES: GENERAL PROCEDURES--Table of Contents

 

              Subpart 2201_Exchanges_Specific Requirements

 

Sec.  2201.3-4  Appraisal review.



    (a) Appraisal reports shall be reviewed by a qualified review 

appraiser meeting the qualifications set forth in Sec.  2201.3-1 of this 

part. Statements of value prepared by agency appraisers are not subject 

to this review.

    (b) The review appraiser shall determine whether the appraisal 

report:

    (1) Is complete, logical, consistent, and supported by a market 

analysis;

    (2) Complies with the standards prescribed in Sec.  2201.3-3 of this 

part; and

    (3) Reasonably estimates the probable market value of the lands 

appraised.

    (c) The review appraiser shall prepare a written review report, 

containing at a minimum:

    (1) A description of the review process used;

    (2) An explanation of the adequacy, relevance, and reasonableness of 

the data and methods used by the appraiser to estimate value;

    (3) The reviewing appraiser's statement of conclusions regarding the 

appraiser's estimate of market value; and

    (4) A certification by the review appraiser to the following:

    (i) The review appraiser has no present or prospective interest in 

the property that is the subject of the review report; and

    (ii) The review appraiser has not, and will not, receive 

compensation that was contingent on the approval of the appraisal 

report.