Basic Appraisal Procedures

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Basic Appraisal Procedures has earned an average of 4.43 out of 5 stars from 7901 ratings.
This course provides an in-depth look at basic appraisal procedures. It builds on the Basic Appraisal Principles course, which should be taken as a prerequisite to this course. It is structured to conform to the criteria for the beginning courses that are needed to become a Real Property Appraiser Trainee. This course is also a common requirement for all levels of licensing and certification for real property appraisers.

This course starts with the valuation procedures that should be followed when appraising any type of property. These steps include:

Defining the problem
Collecting and selecting the data
Analyzing the data
Reconciliation and final value opinion
Communicating the appraisal
Scope of work will be defined and illustrated and its importance will be stressed.

Data sources for this information will be presented. There will be coverage on the geographic and geologic characteristics of the land/site. Location and neighborhood characteristics will be discussed. Housing styles and construction basics will be illustrated.

There will be an overview and introduction to the three approaches to value.  These are the cost approach, sales comparison approach and income capitalization approach. The three elements of the cost approach will be discussed and illustrated in separate chapters. These include site valuation, estimating reproduction/replacement cost, and estimating depreciation.

The sales comparison approach and income capitalization approach will each be presented, along with appropriate examples, in subsequent chapters.  The last chapter will cover reconciliation and report writing. 

There is a required three-hour exam at the end that must be taken in a monitored classroom setting. 

Chapter list:

1. Valuation Process
2. Data Collection
3. Land/Site Valuation
4. Building Styles and Construction
5. Cost Approach - Cost Estimating
6. Cost Approach - Depreciation
7. Sales Comparison Approach - Principles and Data Sources
8. Sales Comparison Approach - Adjustment Procedures
9. Income Capitalization Approach
10. Income Multipliers
11. Reconciliation
12. Conclusion

Appraisal Licensing Course Ratings and Reviews

McKissock is rated 4.4 out of 5 by 7889.
Rated 5 out of 5 by from more difficult than the first but this is a must because the information provided is crucial to becoming a good appraiser.
Date published: 2021-03-05
Rated 4 out of 5 by from Very thorough and thought out course. Has a voice-over that will walk you through the class at a steady pace, but can also be turned off if you are like me and need to take your own time and take some extra mental notes on the side to help you retain the information and learn it. Good information throughout, teaches you everything you need to know.
Date published: 2021-03-04
Rated 3 out of 5 by from It's okay. I personally would prefer reading a book.
Date published: 2021-03-03
Rated 4 out of 5 by from Great course and thorough, however, find a way to study the formulas and put them in action in multiple different ways.
Date published: 2021-03-03
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Is the three hour exam that's mentioned above to get your appraisal license or just to pass this section of the course? If so, where are the testing sites?

Asked by: Tiffany
give us a call at 800-328-2008 so we can get more information and answer their question accurately.
Answered by: McKissock
Date published: 2020-06-15

How does the proctored exam work and can it be done remotely?

Asked by: Dawn
Here is some info on proctoring: Please give us a call if you need additional help or resources.
Answered by: McKissock
Date published: 2021-01-20

does this class require us to take a 3 hour test in person?

Asked by: Samantha
Which class are you referring to? Thanks!
Answered by: McKissock
Date published: 2020-03-02

Is the course online?

Asked by: Zmijka
Yes, our courses are online.
Answered by: McKissock
Date published: 2019-05-26
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