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The Appraisal Institute (AI), headquartered in Chicago, Illinois, is an international association of professional real estate appraisers. [1] It was founded in January 1991 when the American Institute of Real Estate Appraisers (AIREA) and the Society of Residential Appraisers merged. The AIREA and the Society were respectively founded in 1932 ...
The purpose of the requirements to recognize and report hypothetical conditions is to limit the potential for the communication of the appraisal to imply that the hypothetical condition may be plausible or probable and limit the potential for the a user of assignment results being misled by the appraisal regarding its actual value or regarding ...
"The MAI bars many types of performance requirements, or conditions, even if those conditions are imposed on local companies. Examples of forbidden conditions include requiring investors to form a partnership with a local company and requiring a minimum number of local employees—the types of policies governments use to help ensure that local ...
TAF carries out its work through two divisions – the Appraisal Standards Board (ASB) and the Appraiser Qualifications Board (AQB). The latter group sets forth minimum qualifications for appraisal licensure, and its work has been adopted by all states and territories. The ASB maintains USPAP, and issues updates in January of even numbered years.
The International Valuation Standards Council (IVSC) is a non-governmental organization (NGO) member of the United Nations with membership that encompasses all the major national valuation standard-setters and professional associations from 150 different countries (including the Appraisal Institute, the American Society of Appraisers, the RICS ...
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The Appraisal Foundation provided editing and technical assistance to the Standards, but neither undertakes nor assumes any responsibility whatsoever for the content of the Standards. The Appraisal Foundation has published the Uniform Appraisal Standards for Federal Land Acquisitions on behalf of the Conference and in cooperation with the ...
Some of the larger of these include the Appraisal Institute, the Royal Institution of Chartered Surveyors and the International Valuation Standards Council. [ 6 ] Investment properties are often purchased from a variety of sources, including market listings, real estate agents or brokers, banks, government entities such as Fannie Mae , public ...
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