Property Valuation
In Idaho, who is authorized to perform appraisals of real estate for federally related transactions?
AAny licensed real estate salesperson
BOnly licensed or certified appraisers✓ Correct
CAny broker with 5+ years of experience
DThe county tax assessor
Explanation
Federal law (FIRREA) requires that appraisals for federally related transactions be performed by state-licensed or state-certified appraisers. Idaho regulates appraisers separately from real estate licensees through the Idaho Certified Real Estate Appraiser Board.
Related Idaho Property Valuation Questions
- The principle of 'conformity' in appraisal holds that:
- What is the 'principle of progression' in real estate appraisal and what is an example in Idaho?
- Functional obsolescence is a loss in value caused by:
- When an appraiser 'brackets' comparable sales, they are:
- What is 'highest and best use' in real estate appraisal?
- The income capitalization approach is MOST appropriate for valuing:
- A property's GRM is 9 and its annual gross income is $54,000. What is the estimated value?
- Reconciliation in the appraisal process refers to:
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