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Specialized Residential Appraisal Topics is
a 20-hour appraisal prelicensing course that provides a comprehensive
look at general residential appraisal review, analysis of 2-4 family and
multi-family properties, and analysis of unique and complex properties.
The course begins with an overview of appraisal review and a discussion
of applicable USPAP Rules, along with illustration of common errors and
shortcomings commonly found by reviewers. Throughout, the course
especially emphasizes best practices for a reviewer when developing
opinions and conclusions regarding the quality of another appraiser’s
We will also identify key elements of market analysis of 2-4 family
and multi-family properties and distinguish which features and
characteristics are important to an appraiser’s analysis. Students will
also learn how to analyze income and expenses and how this analysis is
used in an appraisal of an income-producing property. Appropriate income
methodologies and how the appraisal approaches apply to
income-producing properties are also discussed.
Finally, this course will raise the level of awareness of the scope of work involved with assignments other than the
everyday single-family residential appraisal. Property types discussed
include unusual, income-producing, and one-of-a-kind properties. The
course continues with an overview of the STANDARDS 1 and 2 appraisal
development and reporting obligations. Finally, common mortgage industry
appraisal and appraisal review forms are illustrated and discussed from
a review perspective.