Can you explain the different levels of Real Estate Appraisal?

Question

I found this information on The Appraisal Foundation website, but it doesn't explain the real differences between

- Licensed Residential (2,000 hrs)
- Certified Residential (2,500 hrs)
- Certified General (3,000 hrs)

If I'm a Licensed Residential Appraiser, how does that differ (aside from the hours) from being a Certified General Appraiser? Thank you.

Answer 1

I am a Certified General Appraiser. The main differences are

Licensed Residential- appraise residential properties up to $1,000,000.
Certified Residential- appraise residential propertie with no limits
Certified General- appraise any property residential/commercial with no limits

In order to get to the next levels you have to take more classes and pass the state test fo ryour level

Licensed Residential- Aq-1, USPAP, R-1, R-2 pass state
Licensed Residential and Submit hours
Certified Residential- Same coures with R-3, R-4 Pass state test
Certified General- take Licensed Residential courses and G-1, G- 2 and G-3 pass state test
If you are motivated you should go for General Certification. The classes with the Appraisal Institute are difficult but they will give you the best education. In January 2008, they are requiring more class hours and want a 4 year college degree in order to get this license. My advice is to complete the classes and pass the test as soon as possible.

Answer 2

examine your sources appraisal date - maximum tax value determinations are executed as quickly as each and every 3 years and the upward thrust is phased in over those 3 years. for that reason, whilst marketplace fee may be reducing, in the adventure that your place became appraised for tax applications for the duration of an upswing, the section in makes it look as though teh appraisal remains going up. additionally, examine inclusive of your tax appraisal place of work. in many cases, if residing house values have declined plenty, you're able to request a re-appraisal. i'm unsure how oit is on your neck of the woods, yet in Maryland, maximum tax value determinations tend to come again in below the truthfully sources fee (on the time the appraisal is executed), so a re-appraisal does not continuously help.

Answer 3

A general appraiser is also able to do, land, commercial, etc. Certifed residential, is just that, residential!

Answer 4

There are also limits to what you can appraise as far as value.

Check out my site, then go to my appraisal page to get specific info:

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