Professional Appraiser
Definition of "Professional appraiser"
Expert in real estate who has an education in real estate appraisal as well as having significant professional experience. A recognized license may be obtained from the Member Appraisal Institute. No national requirement exists as to who may do an appraisal. If property is appraised involving a federally insured agency, the appraiser must be licensed by the state.
Popular Real Estate Terms
Income reporting to the Internal Revenue Service using form 1099 stating income earned. For example, An employing real estate broker uses form 1099 to report commissions earned by a real ...
The definition of a testator in real estate is an individual who makes or leaves a valid will detailing how their possessions are to be divided or distributed among their heirs. The ...
Accelerated method in which a fixed percentage factor of two times the straight-line rate is multiplied each year by the declining balance of the fixed assets book value. ...
Transfer of both real and personal property. An example is the sale of a home with personal belongings. Putting together a group of property to be sold together, perhaps at a discount ...
The American Society of Appraisers, also referred to as ASA, is the largest voluntary membership, a multi-discipline trade association that stands for and promotes its appraiser members. ...
Falsify financial records and statements to misrepresent the financial position and operating results of the business. ...
A style of architecture originating in Europe in the 1920s. The international architecture design was very functional and emphasized buildings constructed of steel, reinforced concrete, and ...
Loss arising from the partial or complete destruction of property resulting from circumstances of a sudden, unanticipated or unusual nature. For example, fires, storms and floods to real ...
Large room at the entrance to a building designed for people to converse or move about freely. ...
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