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 ?
Questions or requests for further information about this joint announcement may be directed to: Appraisers Association of America (212) 889-5404, American Society of Appraisers (800) 272-8258 or International Society of Appraisers (312) 981-6778.
In the meantime, appraisers can learn two important lessons about having the right E&O coverage to protect them from a gathering storm:
Those issues generally include appraiser pressure (often applied via blacklisting or non-payment for services rendered), fee transparency (burying appraiser fees inside the AMC markup on closing documents, and AMCs barring appraisers from including the original invoice in an appraisal seen by the consumer), and of course payment of "customary and reasonable" fees (as originally required by Dodd-Frank, but diluted immeasurably by the Fed's decision to read it as "customary or reasonable" instead).
Raphael's appraiser concluded the total compensation due to the owner was $65,000.
Be a member in good standing of the Institute of Business Appraisers.
The four organizations also sent an April 20 letter to every state appraiser board stating that real estate agents and brokers may be providing broker opinions of value of commercial real estate without appropriate appraiser credentials.
In a letter to Salazar, the four appraiser organizations wrote: "Our organizations believe appraisal issues are extremely complex, and the importance of the appraisal function must be elevated within the Department.
170(f)(11)), and is conducted by a qualified appraiser in accordance with generally accepted appraisal standards (e.
An accredited business appraiser can help, but understanding the basics of calculating your value will keep you from getting lost in the numbers.
But an organization of appraisers and lenders in California endorses the plan.
The laptop's appraisal software, including updated pricing and technical information, lets appraisers complete their work efficiently and accurately, with all the information, including photos, saved in electronic format.
Thus, the appraiser must understand the pertinent legal issues in a given jurisdiction before commencing work.