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 ?
Lawsuits related to hybrid appraisals have been filed against appraisers for years.
Appraisers are also constantly being second-guessed by everyone from underwriters to investors to appraisal management software.
Stephens also noted that appraisers' clients are lenders, not buyers or sellers.
Senator Thunes bill to again allow state-licensed appraisers to perform FHA appraisals is just what we need in South Dakota to increase the number of eligible appraisers, said Sherry Bren, executive director of the South Dakota Appraiser Certification Program.
> Additional coverage on this topic will be included in Christensen's upcoming book, Risk Management for Real Estate Appraisers and Appraisal Firms, to be published by the Appraisal Institute this summer.
Appraisers should understand the regulations setting forth the requirements, because they must specifically declare their understanding of the use of the appraisal and their acknowledgement of the penalty provisions applicable under the Internal Revenue Code.
The Azerbaijani Society of Appraisers was registered in 1997.
There is currently no standardized method for identifying top-quality appraisers or validating appraiser selection during appraisal review.
With technology always changing, it is necessary that the appraisers have access to state-of-the-art hardware, software and smartphones.
"As appraisers leave the profession, the Appraisal Institute is preparing the next generation through its education, publications and other training," said Appraisal Institute President Ken P.
* Be a member in good standing of the Institute of Business Appraisers.
Fannie Mae's new guidelines also attempt to clarify other issues that have arisen during the past year, including the widespread use of inexperienced appraisers who are unfamiliar with local market conditions.