Florida law requires Registered, Licensed and State Certified Appraisers, licensed prior to November 30, 2007, to complete 30 hours of state approved continuing education before November 30, 2008.
This course considers the twelve requirements when preparing a USPAP compliant real property appraisal report, with emphasis placed on the requirements for a Summary Appraisal Report. The course begins with a consideration of the appraisal process (Standard 1) as compared to the reporting process (Standard 2). A discussion of appraisal report forms follows, whereby the Fannie Mae appraisal reporting forms are considered as aids for reporting appraisal assignment results.
Approved by the Appraiser Qualifications Board (AQB) of The Appraisal Foundation as course 0007742.
The course then offers some reporting basics, which are applicable to all real property appraisal reports, including an explanation of extraordinary assumptions and hypothetical conditions. Next, the course references Advisory Opinion 11 and Standard Rule 2-2 to compare and contrast the three reporting options: Self Contained Appraisal Report, Summary Appraisal Report, and Restricted Use Appraisal Report. Finally, the Summary Appraisal Report (Standard Rule 2-2 (b) is studied, since this is the type of report most often provided by appraisers for their clients and intended users. Each of the twelve requirements of Standard Rule 2-2 (b) is considered in detail.
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