Appraiser

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Appraiser

A person licensed to estimate the value of a property. The appraiser may take into account the quality of the property, values of surrounding properties, and market conditions in the area. One becomes licensed or certified as an appraiser generally through education, testing and work experience, though the specific requirements vary by state.

appraiser

One who performs appraisals of real or personal property.The various associations and organizations for real estate appraisers include:

• Appraisal Institute (www.appraisalinstitute.org). Offers the designation MAI, among others.

• National Association of Independent Fee Appraisers (NAIFA) (www.naifa.com). Founded in 1961.

• National Association of Master Appraisers (NAMA) (www.masterappraisers.org). Founded in 1982. It offers three designations: Master Residential Appraiser; Master Farm and Land Appraiser, and Master Senior Appraiser.

• National Association of Real Estate Appraisers (NAREA) (www.iami.org/NAREA/home.cfm). Founded in 1966.

• National Association of Review Appraisers and Mortgage Underwriters (NARA/MU) (www.iami.org/NARA/home.cfm). Founded in 1975.

• National Society of Real Estate Appraisers (www.nareb.com/affiliates/society_appraisers.shtml).

• American Society of Farm Managers and Rural Appraisers (www.asfmra.org).

Appraiser

A professional with knowledge of real estate markets and skilled in the practice of appraisal.

When a property is appraised in connection with a loan, the appraiser is selected by the lender, but the appraisal fee is usually paid by the borrower.
References in periodicals archive ?
However, if the transaction is contingent upon financing and the premises do not appraise out, the purchaser must still proceed with the transaction with the lower loan amount and will not have an opportunity to negotiate the sales price.
BES lets you appraise any small business in less than 45 minutes, and automatically generates a 33+ page professional and comprehensive written report.
OREA is committed to ensuring that only qualified individuals are licensed to appraise real estate," OREA Acting Director Tony Majewski said.
In the same way some people have been concerned we have been overregulated, what appraisers don't want to see is their customes telling them how to appraise property," he said.
15, PPPAC appraises and approves the Total Project Cost (civil cost + centages) of BOT projects, where the financing is expected to be raised by the concessionaire.
16, 2007, the appraiser has (i) successfully completed college or professional-level coursework relevant to the property being valued, (ii) obtained at least two years' experience in the trade or business of buying, selling or valuing the type of property involved and (iii) fully described in the appraisal his or her education and experience that qualify the appraiser to appraise the type of property being valued.