[20190530]IF10423_房地产估价导论.pdf

https:/crsreports.congress.gov Updated May 30, 2019Introduction to Real Estate AppraisalsA real estate appraisal is a measure of the value of property based upon the price that a professional appraiser believes the property could be sold for under normal market conditions. Lenders rely on an appraisal because the property serves as collateral for a mortgage loan. Real estate buyers might view the appraisal as a check on their own willingness to pay. Although the details of conducting an appraisal are largely the product of industry professionals, the states and the federal government play a role. The states, for example, regulate the licensing and certification of professional appraisers. The federal governments role includes oversight of the state appraisal qualification boards; contributions to the funding of the nonprofit appraisal foundation that promulgates appraisal standards; setting minimum requirements for conducting appraisals; and setting standards to maintain the independence of appraisers. This In Focus discusses federal appraisal legislation in the context of real estate booms and busts and then summarizes some current policy issues related to the regulation of appra