Basic Appraisal Principles

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This course provides an in-depth look at basic appraisal principles. It is the bedrock course for other appraisal courses that follow, which may delve into more complex issues of appraising residential and income producing properties. This course is structured to conform to the Appraiser Qualifications Board's criteria for the beginning course that must be completed to become a real property appraiser trainee. This course is also a foundational requirement for all levels of licensing and certification for real property appraisers. The course starts with real property concepts and characteristics, as well as legal descriptions of real property. Influences on real property values will be investigated. Types of value and economic principles will be detailed and explained. There will be an overview of real property markets and how to analyze them. The basics of ethics for appraisers will be presented along with applications of ethics in appraisal theory and practice. There is a required three-hour exam at the end that must be taken in a monitored classroom setting.

Chapter list:

1. The Appraisal Profession
2. Licensing and Certification
3. Ethics.
4. The Modern Appraisal Office
5. Basic Appraisal Concepts
6. Legal Descriptions of Land
7. Definitions
8. Deeds, Contracts, and Leases
9. Real Property Markets
10. Money Principles
11. Sources of Capital and Financing
12. Influences on Real Estate Values
13. Types of Value
14. The Economic Principles
16. Market Analysis
17. Math Review and Statistics
18. Real Estate Math
19. Final Exam
15. Applications and Illustrations of Economic Principles