Basic Appraisal Principles, 2nd edition

The Basic Appraisal Principles course provides an overview of real property concepts and characteristics, legal considerations, value influences, real estate finance, types of value, economic principles, real estate markets and analysis, and ethics in appraisal. Through theory, case studies, and examples, this course offers practical application of appraisal principles. Drill problems and a short case study allow students to put into practice the techniques presented in the course. An exam is given at the completion of the course for students requesting pre-certification credit. COURSE OBJECTIVES: - Recall the fundamentals of the appraisal profession and process. - Identify real property rights, improvements, characteristics, and legal descriptions. - Describe the various types of estates associated with real property. - Explain types of ownership of real property and businesses. - Describe governmental and private controls over real property. - Describe the legal instruments used when transferring, conveying, and leasing real property. - Recall types of real estate value and forces that influence value. - Explain economic principles and market fundamentals. - Recognize the basics of a real estate market analysis. - Identify ethical principles and acceptable standards of appraisal practice.