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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).
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.