Property Valuation
An appraisal performed for a federally regulated mortgage transaction in Tennessee must be completed by:
AAny licensed real estate professional
BA state-licensed or state-certified appraiser✓ Correct
CA TREC-approved appraiser
DA member of the Tennessee Bankers Association
Explanation
Federal regulations require that appraisals for federally regulated mortgage transactions be performed by state-licensed or state-certified appraisers. Tennessee appraisers are licensed/certified by the Tennessee Appraiser Certification and Licensure Board (TACLB).
Related Tennessee Property Valuation Questions
- An appraiser who receives pressure from a lender to 'hit' a specific value should:
- When appraising new construction, the cost approach is often most appropriate because:
- When appraising a Tennessee property using the income approach, 'effective gross income' is calculated as:
- An appraisal that values a property under the assumption that it will continue its current use rather than be converted to its highest and best use is known as a:
- In Tennessee, the 'economic life' of a building is the period during which:
- Contributory value is the concept that:
- When a comparable sale was distressed (sold in foreclosure at below-market price), an appraiser should:
- The gross rent multiplier (GRM) approach is best suited for:
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