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One of the most recognized professional organizations of real estate appraisers in America is the Appraisal Institute (AI). It was formed from the merger of the American Institute of Real Estate Appraisers and the Society of Real Estate Appraisers. Founded along with others in the 1930s, the two organizations merged in the 1990s to form the AI.
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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.
Also, effective for single-family mortgages made after May 1, 2009, Freddie Mac seller/servicers must represent and warrant that the appraisal report is obtained in a manner consistent with the Code. Certain types of mortgages are excluded from the Code, including: FHA/VA mortgages, Section 184 Native American mortgages, and section 502 ...
Location. Different areas will have different average prices — for example, Angi data shows that the average home appraisal cost in Cleveland is $325, while in Seattle it’s $500.
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How to Measure a House. ISBN 978-1456491987. Realtor Magazine. "In Search of A Standard." September 2008. Approved for use by the Mississippi Appraisal Board. January 2019. Continuing education course in Home Measurement Basics (based on the AMS) approved by the Arizona and California Appraisal Boards (2010).
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