Home Appraisal FAQs - Appraisals What are the limitations on an appraisers license and property type?
What are the limitations on an appraisers license and property type?

In addition to the requirements of the Uniform Standards of Professional Appraisal Practice (USPAP), the appraisers license can limit the type of appraisals that an appraiser can perform.  There are also dollar limits if the appraisal is being perform for a federally related transaction or as imposed by the client.  Careful attention should be paid to the credentials of the appraiser and/or appraisal company being hired for each appraisal request.  Following is a table of some of the basic guidelines that should be considered.  

 

 Property/Report Type

Certified General Appraiser

Certified Residential AppraiserLicensed Residential Appraiser
Appraiser Trainee
Real Estate Broker/Agent

CMA: Comparative Market Analysis

    
      
Residential* < $250,000      
Residential* = $250,000 to $1,000,000
     
Residential* > $1,000,000
     
      
Single Family Home
 

  
Condominium Unit
     
2-4 Family Building   

FHA/HUD Appraisal
      **  
VA Appraisal
     
REO Appraisal
 
   
      
Mixed Use Property
   
Commercial Use
     
Office Building
     
Office Condo     
Store/Retail
     
Strip Retail Center
     
Industrial Use
     
Manufacturing Use
     
Apartment Complex
     
      
   = Permitted, provided the appraiser complies with USPAP, including the Competency Provision.  
   = Permitted when being trained and supervised by a certified or licensed appraiser..
  = Not Permitted, to perform appraisal type or use, unless supervised by a qualified appraiser.  
  = Not permitted to perform this type of appraisal or use.  
  = These are the transactions limits for federal related transactions. 
  ** = Effective October 2009, a Licensed Residential Appraiser will no longer be able to perform FHA/HUD appraisals. 
      
 

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FHA Approved Appraiser
with 25+ years of Qualifications and Experience

Manufactured/Mobile
Home Appraisal, Inspection and Valuation

Certified Appraiser
SCGREA General Appraiser as Staff Supervisor

Condo Project Approvals
for FHA/HUD, VA, Fannie Mae & Freddie Mac