The material in this course satisfies 75 hours of the 2008 Real Property Appraiser Qualification Criteria as mandated by The Appraisal Foundation. The course focuses on the basic principles and procedures of appraisal, as well as residential report writing and case studies. Using an effective blend of appraisal theory and practice, the curriculum covers real estate concepts, finance and the valuation process. Neighborhood analysis is explained, and the concept of highest and best use is addressed. Data collection, site description and improvement description is also covered. The three approaches to value- sales, comparison, cost and income- are described, along with the process of reconciliation. Students will learn to identify the two types of appraisals and the three types of appraisal reports. The course instructs students in detail how to fill out the Uniform Residential Appraisal Report (URAR). Students will be taken through each section of the URAR where they identify and complete the required fields. This course provides the student with the guidelines and direction to create URAR reports which are in compliance with USPAP. Included with this portion of the course is Fundamentals of Real Estate Appraisal, the most comprehensive reference book in the real estate appraisal profession ($55 value). Proctored Exam Required. Important Note: Students are also required to complete the 15-Hour National USPAP Course Equivalent to meet the 90-hour qualifying education requirements (see course above).
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