Real Estate Appraisal Flashcards
Real Estate Appraiser
anyone who engages in the real estate appraisal business; must have the appropriate license
Engaging in the real estate appraisal business
the act or process of estimating the value of real estate for a fee or other valuable consideration
Certified General Appraiser
allowed to appraise all types of real estate
Certified Residential Appraiser
allowed to appraise residential real estate
Provisional Licensed Appraiser
allows entry level appraisers to develop the appraisal experience needed to qualify for a category of certified or licensed appraiser
Supervising Appraiser
supervises provisional licensed appraisers, can only sponsor up to three provisional appraisers unless they apply for a waiver
Appraisal Review
the act or process of developing and communicating an opinion about the quality of another appriaser’s work
Appraisal Management Companies
must register with the CT Dept of Consumer Protections, required to annually certify and maintain detailed records