Property appraisers are generally referred to as Real Estate Appraisers. This is the category of real estate professionals who determine the value of the real estate. It is a heavily-regulated industry, with oversight in both state and federal levels.
Different Types of Property Appraisers
Three types of assessors recognized:
- Certified Residential
A general appraiser can assess any and all types of property, and the most likely to work on commercial valuations. The licensed appraiser has the lowest level of the license status and has less formal training than either General or Certified Residential Appraisers. If you are also locating an appraiser in Los Angeles, you can explore this website www.walshstreet.net
The licensed appraiser has more restrictions on the types of properties that they can appreciate, and fewer and fewer lenders will engage assessors in this licensing level for the service.
Typical Appraisers engaged by the lender for the property value of real estate transactions is a Certified Residential. In order to become a licensed property appraiser, individuals must meet a strict set of criteria that includes education and training classes on-the-job as a trainee.
Before participants can be sponsored by an experienced valuer, he needs to complete the first exercise-based classes (or online training) which include:
- Basic Principles Assessment (30 hours)
- Basic Assessment Procedure (30 hours)
- 15-Hour National USPAP or Equivalent (15 hours)