Property Valuation
In Oregon, a 'certified residential appraiser' differs from a 'certified general appraiser' in that:
ACertified residential appraisers can value any property; certified general appraisers cannot
BCertified residential appraisers are limited to 1-4 unit residential properties of non-complex types; certified general appraisers can value all property types✓ Correct
CCertified general appraisers must be OREA licensed; certified residential appraisers do not
DBoth credentials are identical under USPAP
Explanation
Oregon follows the federal appraiser credential system: Licensed Residential (1-4 unit residential, non-complex, under certain value thresholds), Certified Residential (1-4 unit residential with no value limit), and Certified General (all property types including commercial). For federally related transactions, the property type and complexity determine which credential is required.
Related Oregon Property Valuation Questions
- An Oregon appraiser identifies a property's 'remaining economic life.' This refers to:
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- A Portland office building's highest and best use is to be determined. The four criteria for highest and best use are:
- What is a 'broker price opinion' (BPO) and how does it differ from a formal appraisal in Oregon?
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- In Oregon, which of the following is NOT typically considered in the sales comparison approach to value?
- What is 'contributory value' in Oregon appraisal?
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