Real Estate Appraisers Forms for Fairfax
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FAQ
Appraisers rely on the following three methods of establishing real estate property values:Sales comparison. This is the most common method, where appraisers value a property based on the recent selling prices of similar properties in the same neighborhood.Cost approach.Income approach.
The appraisal fee limit varies by state and sometimes county. Nationwide, maximum VA appraisal fees range from $425 to $875 for single-family homes, condos and manufactured homes. Appraisers can ask for permission to charge additional fees for mileage and the extra time required to evaluate complex properties.
The Uniform Standards of Professional Appraisal Practice set forth the requirements for appraisal reports, which may be presented in one of three written formats: self-contained reports, summary reports, and restricted-use reports.
Before you can apply to be a licensed real estate appraiser in Virginia, you need to log 1,000 hours of supervised appraisal experience over a period of at least six months. You'll also need to complete 150 total hours of appraisal education (which includes the 75 hours you completed to become a Trainee Appraiser).