Property Valuation
In Massachusetts, who is qualified to perform a certified real estate appraisal for mortgage lending purposes?
AAny licensed real estate agent
BA state-certified or state-licensed real estate appraiser✓ Correct
CAny licensed Massachusetts attorney
DA real estate broker with 5+ years of experience
Explanation
Federal law requires that real estate appraisals for federally related lending transactions be performed by state-certified or state-licensed appraisers under the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA).
Related Massachusetts Property Valuation Questions
- In Massachusetts, 'paired sales analysis' is an appraisal technique used to:
- An appraisal is an estimate of value while a CMA (Comparative Market Analysis) is:
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- What is 'market value' as defined for Massachusetts appraisal purposes?
- A Massachusetts appraiser analyzes the 'market conditions' for a neighborhood report. Key market indicators include:
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- A Massachusetts commercial appraiser calculates a capitalization rate by:
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