So, you’re looking for a home appraiser in Portland, Oregon. You start by searching the internet and you see appraisers advertising that they are “Oregon State Certified Residential Appraisers.” Just what is an Oregon Certified Residential Appraiser?
Anyone engaged in real estate appraisal activity in Oregon must be certified, licensed, or registered. (See Oregon Appraiser Certification & Licensure Board (ACLB) for all statutes and rules.) Real estate appraisal activity is the issuance of an opinion of value. A Certified Residential Appraiser is the highest level of residential appraiser license. Someone with residential appraiser certification can estimate opinions of value on all types of one to four-family residential real estate including vacant residential land, recreational land, and rural properties. This means single-family homes, duplexes, triplexes, and fourplexes.
Certified Residential Appraisers in Portland and all of Oregon have similar requirements as in other states with some exceptions. It is best to contact your state regulators for more information.
Certified Residential Appraisers may not estimate value of commercial or industrial properties, timber or mineral interests, commercial development potential, or land or properties with environmental hazards unless they have experience doing so and the transaction value is less than $250,000. A qualified State Certified General Appraiser is necessary for these other commercial or specialty types of valuations.
It is a good idea to consult with your appraiser prior to engagement to determine if he/she is experienced and qualified to appraise your property. However, appraisers are held to professional ethical standards that require competency prior to accepting an assignment. Ultimately, it is the appraiser’s responsibility to be able to defend competency to peers and regulators, if challenged.
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