When do I need an appraisal? Examples include the IRS which requires appraisals for matters that concern taxation. Divorce and dissolution-of-partnership also require appraisals. Lenders typically require appraisals for mortgage loans.
Is there one license for real estate appraisers? No, commercial RE appraisers and residential RE appraisers have different licenses. Commercial RE appraisers can appraise residential and commercial properties while residential appraisers are limited to residential & up to a (4) unit multi-family property (quadraplex).
USPAP, what is it? The Uniform Standards of Appraisal Practice is a set of rules and guidelines that all real estate professionals who are licensed as appraisers must follow. The rules are updated every two years and are enforced in Florida by the DBPR or Department of Business and Professional Regulation.
Chapter 475, Florida Statutes, Part I is where the rules and laws that govern RE Brokers, Sales Associates and Schools are listed. FS 475, Part II is where rules and laws that pertain to appraisers is listed.
CoStar Comps, what is it? CoStar is the premier subscription service that provides comparable sales of real estate used by Commercial RE Brokers to support a BPO or Brokers Price Opinion for listing purposes. Commercial Appraisers rely on CoStar Comps for appraisal valuation purposes.
LoopNet, what is it? There are several companies that facilitate CRE Listings on the internet. LoopNet, owned by CoStar is the premier listing service available today for commercial real estate.
MLS or Multiple Listing Service is a proprietary computer-data-base of real estate available only to "Realtor" members of the National Association of Realtors and it's local chapters. All Realtors have real estate licenses but all real estate licensees are not Realtors. In Orlando "ORRA" the Orlando Regional Realtor Association is the local chapter of the National Association of Realtors.
Is there a List of Hard-to-Find RE Service Providers that I can refer to? Yes, please click on the link below and look for page entitled "Referrals".