Property Valuation
An appraisal report prepared for a federally related transaction must be performed by:
AAny licensed real estate agent
BA state-licensed or state-certified appraiser✓ Correct
CThe lender's in-house staff without formal licensing
DA real estate broker with at least 5 years of experience
Explanation
Federal regulations require that appraisals for federally related transactions (most mortgage loans) be performed by state-licensed or state-certified appraisers, not by real estate agents or brokers.
Related Nebraska Property Valuation Questions
- The gross rent multiplier (GRM) for a Nebraska residential rental is 142. The property rents for $1,400/month. The estimated value is:
- Gross Rent Multiplier (GRM) is calculated as:
- A Nebraska appraiser valuing a 640-acre irrigated corn farm would place the highest weight on which approach?
- When appraising a Nebraska property in a rapidly appreciating market, the appraiser should:
- A property with a GRM of 120 generates $1,500 per month in rent. What is the estimated value?
- Appraisal reconciliation is the process of:
- The Uniform Standards of Professional Appraisal Practice (USPAP) applies to Nebraska appraisers because:
- Market value is best defined as:
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