Certified Appraiser
An appraiser holding a state certification — Certified Residential or Certified General — earned through education, supervised experience hours, and a national examination. Certification levels determine which properties an appraiser may legally appraise for federally related transactions.
The credential ladder runs from Trainee (working under supervision) to Licensed Residential, Certified Residential (any residential 1-4 unit property regardless of value or complexity), and Certified General (all property types, including commercial). Requirements are set by the Appraiser Qualifications Board and administered by state boards. For consumers, the practical takeaway is to match the credential to the assignment: estate and divorce work on a typical home calls for at least a Certified Residential appraiser, while commercial property requires a Certified General.
Related Terms
Uniform Standards of Professional Appraisal Practice (USPAP)
USPAPThe nationally recognized ethical and performance standards for the appraisal profession, established by The Appraisal Foundation.
Appraisal
The act or process of developing an opinion of value for a property, performed by a licensed or certified appraiser following recognized methods and professional standards.
Competency Rule
A USPAP rule requiring that an appraiser must have the knowledge and experience necessary to complete an assignment competently, or must take steps to acquire it before accepting the assignment..
More in Legal & Regulatory
View allFIRREA (Financial Institutions Reform, Recovery, and Enforcement Act)
FIRREAThe 1989 federal law that established the modern appraisal regulatory framework, requiring state licensing of appraisers and USPAP compliance for all federally related real estate transactions..
Dodd-Frank Act (Appraisal Provisions)
The 2010 federal financial reform law that included significant appraisal provisions: appraiser independence requirements, AMC registration, customary and reasonable fee mandates, and prohibition of BPOs for origination..
Appraiser Independence
The legal requirement that appraisers must be free from improper influence, coercion, or pressure from parties with a financial interest in the transaction outcome.
USPAP Ethics Rule
The USPAP rule establishing requirements for appraiser conduct, management, confidentiality, and record keeping.