NEWS - Searching For A Real Estate Property Appraiser. There are many people who call themselves appraisers but who are not accredited and have no formal training. It is important to hire an appraiser who is accredited by a reputable appraisal organization.Make the property appraiser is licensed or certified by the state to conduct real estate appraisals. Some states do not require licensing to perform real estate appraisals. We do not recommend using the services of any appraiser who is not licensed or certified. Do not be afraid to ask an appraiser for a copy of your license. Assessor easily provide this documentation.
Ask how much of his work is not done for lenders. Many a good indication that they are not just dropping back the defaults. If all work is done for lenders, ask how many times was below the selling price. If the answer is no - find someone else. The law requires that assessors remain impartial.
Real estate appraisers have a professional degree. The best known are the designations of the industry SRA (residential appraiser) and MAI (generally commercial appraiser) and PACU (chief appraiser real estate). These designations are issued by the Appraisal Institute. These appointments demonstrate the commitment of appraiser continuing education and ethical standards.
Professional designation may or may not be a good test of quality, but the Evaluation Institute designations of SRA, MAI and PACU are deservedly the most respected in the profession. Many appraisers best of their appointment. Unfortunately, a bad few designated appraisers as well.
Knowledge is power, so arm yourself with knowledge before looking for the next Commercial Appraiser, Appraiser Residential, FHA Appraiser or VA Appraiser.
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