Broker Dana Ruiz needs an appraisal for a complex four-unit residential property with a transaction value of $350,000. Assuming the state follows AQB minimum classification standards and offers all classifications, what is the minimum appraiser classification that may perform the appraisal?
Correct Answer
D) Licensed Residential Appraiser
Under the AQB minimum classifications, a Licensed Residential Appraiser may appraise complex one-to-four residential units when the transaction value is less than $400,000. Because this property is complex, residential, one-to-four units, and valued at $350,000, that is the minimum qualifying classification.
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A lender first orders an appraisal on a mixed-use building with retail space and apartments, then asks about a later assignment involving industrial land. Which credential clearly has authority to appraise all types of real property under AQB minimum classifications?