This course reviews basic appraisal theory, defines commonly used terms, introduces industry standard appraisal guidelines, and provides an overview of the role the Appraiser and Reviewer/Underwriter each play in the appraisal process. We'll also review each section of the Uniform Residential Appraisal Report (URAR) or Form 1004, for what information should be included and red flags to look for.
Learning Objectives: Reviews basic appraisal theory and the concept of "market value". Provides detailed review of the first page of the Uniform Residential Appraisal Report for single-family residences.