Course #AP102:

   Basic Appraisal Procedures         (30 Hours Qualifying Education - Tested)

This course fulfills the AQB requirement for Appraisal Procedures

Text: Appraisal: Basis Appraisal Procedures (Hondros).

This course is designed as basic instruction for the student interested in learning real property appraisal procedures and concepts.  The lessons cover basic appraisal procedures based on the AQB Course Module with appropriate subtopics. Basic Appraisal Principles is a pre-requisite for this course.  Appraisal Procedures provides the foundation for subsequent education for those interested in pursuing a career in real estate valuation.

Course Objective: The objectives of this course are to:

 ·         provide the student with a solid foundation in real estate appraisal procedures and concepts.

·         provide the student with an understanding of the approaches to value.

·         develop an understanding of the valuation process and relate the process with the Uniform Standards of Professional Appraisal Practice.

·         develop an understanding of the reconciliation process and how to analyze the data to develop a final opinion of value.

·         explain the reporting elements including the report options.

·         demonstrate how to properly identify the property characteristics that are appropriate based on the intended use and intended user of the appraisal assignment.

·         develop an understanding of basic construction elements including architectural styles and types of construction.

·         provide an opportunity for the student to apply learned concepts to applications.

Prerequisite: AP101

Approved for both Qualifying and Continuing Education in Nebraska (Approval #Q002)

South Dakota approval #SD399

This course meets the new qualifying education criteria for the State of Iowa

* This course is AQB approved - that AQB approval applies to the course materials and not the course provider.  The course has been purchased from Hondros Learning, which was granted the approval.  The approval is for the BASIC APPRAISAL PROCEDURES (30 HOURS) module.  Sub-topics covered in this course include:

A. Overview of Approaches to Value

B. Valuation Procedures

        1. Defining the Problem

        2. Collecting and Selecting Data

        3. Analyzing

        4. Reconciling and Final Value Opinion

        5. Communicating the Appraisal

C. Property Description

        1. Geographic Characteristics of the Land/Site

        2. Geologic Characteristics of the Land/Site

        3. Location and Neighborhood Characteristics

        4. Land/Site Considerations for Highest and Best Use

        5. Improvements - Architectural Styles and Types of Construction

D. Residential Applications

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Last modified:  08/11/10