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Appraisal Institute Education

REO Appraisal-Appraisal of Residential Property for Foreclosure and Preforeclosure | Program Details

Changes in lending practices and economic conditions have created a need for appraisers who have specific knowledge and experience to properly develop and document opinions of real property value in foreclosure. This timely new seminar will provide participants with the information needed to assist clients in making well-supported decisions about the final disposition of real estate acquired through foreclosure. It begins with a look at the foreclosure process and the role of those involved. Users of appraisal services will become familiar with the many resources appraisers can offer to solve different dilemmas. Appraisers will learn how to formulate a scope of work that not only provides a solution to the user’s problem, but also the ability to determine the type and extent of research required to arrive at credible results.


At the end of this seminar participants will be able to do the following:
  • Understand the needs of clients who order appraisals for preforeclosure, foreclosure, or postforeclosure decisions.

  • Recognize the range of services that an appraiser can provide in preforeclosure, foreclosure, or postforeclosure decisions

  • Identify the elements involved in completing assignments.

  • Differentiate between various types of value definitions.

  • Identify the market for a property.

  • Formulate a proper scope of work when completing appraisal assignments in a preforeclosure, foreclosure, or postforeclosure decision.

  • Understand inspection requirements for assignments in a preforeclosure, foreclosure, or postforeclosure decision.
  • Downloads
    Table of Contents and Overview [PDF]

    Type
    Residential

    Equipment Required
    HP-12C Calculator

    Tuition
    Please contact the sponsoring chapter for information on fees applicable to chapter programs.

    Classroom Hours
    7.0

    Level
    Intermediate

    For Further Reading
    None Specified.

    Registration Information
    None Specified.

    Click here for state approvals


    Class Schedule & Locations

    02/05/2010 - 02/05/2010
    Location: Birmingham, AL
    Click here for location details
    Sponsor: Alabama
    Contact: Pam Paulk, (205) 835-0808
    Instructor: Smeltzer, Mark V., SRA
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    02/10/2010 - 02/10/2010
    Location: St. Paul, MN
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    Sponsor: North Star
    Contact: Maribelle Cushman, (651) 633-0676
    Instructor: Hummel, Alan, SRA
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    03/15/2010 - 03/15/2010
    Location: Tucson, AZ
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    Sponsor: Southern Arizona
    Contact: Linda Bacon, (520) 792-8200
    Instructor: Chirpich, Carol L., SRA


    04/13/2010 - 04/13/2010
    Location: Indianapolis, IN
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    Sponsor: Hoosier State
    Contact: Shannon O'Keefe, (317) 815-1340
    Instructor: Borges II, Richard L., MAI, SRA
    Register