Who may give a supportable opinion of market value to be used in seeking a federally-related loan to finance a real estate transaction

Rationale

A certified appraiser may give a supportable opinion of market value to be used in seeking a federally-related loan to finance a real estate transaction.

A certified appraiser has the qualifications and training necessary to provide an objective opinion on the value of real estate, which is essential for federally-related loans. Their expertise ensures compliance with the standards set by federal regulations, making their appraisals reliable for lenders.

A (a certified appraiser) CORRECT

Certified appraisers have completed the required education and training to evaluate property values accurately. Their qualifications include adherence to standards set by the Uniform Standards of Professional Appraisal Practice (USPAP), ensuring that their opinions on market value are credible and accepted for federally-related transactions.

B (a licensed real estate broker) YOUR ANSWER

While licensed real estate brokers have knowledge of the market, they are not necessarily qualified to provide formal appraisals. Brokers can offer comparative market analyses that may inform opinions on value, but these are not recognized as appraisals for federally-related loans, which require a certified appraiser's expertise.

C (any real estate licensee, in each state in which the licensee is licensed) YOUR ANSWER

Real estate licensees can provide opinions based on their market knowledge but lack the formal appraisal qualifications necessary for federally-related loans. Their insights may help buyers and sellers, but these opinions do not meet the rigorous standards required for financing purposes.

D (a Certified Public Accountant) YOUR ANSWER

Certified Public Accountants (CPAs) are trained in financial matters and may analyze property investments, but they are not trained to appraise real estate. Their expertise lies in accounting and finance rather than in determining market value, making them unsuitable for providing supportable opinions for federally-related loans.

Conclusion

In seeking a federally-related loan for real estate transactions, only a certified appraiser possesses the requisite qualifications to deliver a reliable opinion of market value. While brokers, licensees, and CPAs contribute valuable insights in their fields, their lack of specialized training in formal appraisals renders them unfit for this specific purpose. Understanding the distinction ensures compliance with federal lending requirements and protects the interests of all parties involved in real estate transactions.

Who may give a supportable opinion of market value to be used in seeking a federally-related loan to finance a real estate transaction

A certified appraiser may give a supportable opinion of market value to be used in seeking a federally-related loan to finance a real estate transaction.

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