Property Valuation
In Indiana, an appraisal for a federally related mortgage transaction must be performed by:
AAny licensed real estate broker
BA state-licensed or state-certified appraiser✓ Correct
CA county assessor
DA member of the Indiana Real Estate Commission
Explanation
Federal law (FIRREA) requires that appraisals for federally related mortgage transactions be performed by state-licensed or state-certified real estate appraisers, regulated in Indiana under IPLA.
Related Indiana Property Valuation Questions
- In an Indiana appraisal, extraordinary assumptions are:
- The cost approach to valuation uses the formula:
- Economic life of an improvement refers to:
- A building's effective age in appraisal practice:
- An appraisal is an estimate of value as of:
- An Indiana appraiser who determines the highest and best use 'as if vacant' is asking:
- The Appraisal Foundation establishes appraisal standards in the United States through:
- The principle of substitution in Indiana real estate appraisal holds that:
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