That the information analysis utilized in the appraisal was appropriate. That significant errors of omission or commission were committed neither individually nor collectively. That appraisal services were not rendered in a careless or negligent manner. That a credible, supportable appraisal report was communicated. Typically, appraisers are employed by lenders to estimate the value of real estate involved in a loan transaction.
Appraisers also provide opinions in litigation cases, tax matters and investment decisions.
To appraise real property, all states require appraisers to be licensed or certified . An MAI is a general appraiser, certified to appraise any property from residences to industrial property or even timberland. An SRA is a residential appraiser, certified to appraise dwellings, including single family homes, apartments, condominiums, retirement homes, etc.