Getting
appraisal of a real estate property
is very necessary in three cases. First, when you are going to sell your
property, second when you want to evaluate tax estimation and third is when you
are developing or insuring your property. The process is carried out with the
help of a professional appraiser. There are many individuals who are interested
in opting this profession, but due to lack of proper information, they are
misled or misguided.
Dean
Graziosi provides complete and detailed information on the subject. Dean
Graziosi is in the field of real estate for more than two decades. He is more
than just a realtor. He deals with different aspects of real estate and
provides novice and aspirants rules and regulations of real estate. For this purpose,
he has written books, conducted live events and is active on his online forum
and blog.
Dean's books
are New York Times bestseller.
He is famous for his infomercial series running on American national TV
channels since 1998. This motivated and motivating public speaker is an
inspiration for many aspirants who want to achieve success in real estate.
What is Work of Commercial Real
Estate Appraiser?
A
commercial real estate appraiser inspects commercial buildings. The buildings
are inspected to determine and evaluate their valuation before carrying out
developmental work, taxes, insurance, loan etc. Most of the appraisers work on
other jobs as well i.e. mortgage companies and banks. Others take it as a full
time career therefore earning up to $100,000 annually.
Commercial
appraisers work for weeks. They gather complete information, analyze it and
represent to concerned parties and authorities. It is a self-employed job.
Required Qualifications:
Main
qualifications for appraisers are set by Appraisal Qualification Board.
Whereas, additional requirements are set by the state in which you live. Some
of the limitations that your state may imply on you are:
·
Limits
on what you can do, these limits are based on qualification and experience.
·
State
might limit you in the money value of the property.
·
State
might restrict in other aspects of appraisal i.e. representation in front of a
court
·
Work
under a licensed appraiser for a certain period
·
Apply
for the license after completing minimum hours of practice
·
Pass
an exam specially designed by your state for real estate appraisers
Apart from these, there are some
national requirements:
·
For
licensed residential, you need 2000 experience hours and 150 education hours.
·
Certified
residential requires 2500 experience hours and 200 license education hours.
·
For
certified general you need 3000 experience hours and 300 license education
hours.
Other State and National
Requirements:
·
Some
of the states might need you to complete college degree in appraisal making.
Courses like English, economics, finance and business can help you.
·
You
can also do courses in appraisal making. Your educational counselor can help you
in choosing right kind of course.
·
Before
you get a certificate, state might require you to complete required minimum
number of hours as a trainee.
·
You
might have to take exam for obtaining license. State will administrate the exam
but Appraisal Subcommittee of the Federal Financial Institutions Examination
Council oversees the exams. It is a federal organization that makes sure that
all appraisers meet national requirements.
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