Question 21

A certified appraiser may give a supportable opinion of market value to be used in seeking a federally-related loan to finance a real estate transaction.

A certified appraiser possesses the specialized training and credentials necessary to assess the market value of real estate, making their opinions reliable for federally-related loan processes.

A) a certified appraiser

This option is correct because certified appraisers are professionally trained and authorized to evaluate and provide opinions on the market value of properties. Their qualifications ensure that their assessments meet the standards required for federally-related loans.

B) a licensed real estate broker

While licensed real estate brokers have knowledge of the market and can provide insights on property values, they do not have the same level of training or certification as appraisers. Their opinions are not typically deemed supportable for federally-related loan purposes.

C) any real estate licensee, in each state in which the licensee is licensed

This option is incorrect as not all real estate licensees have the qualifications necessary to provide an opinion of market value for federally-related loans. Only certified appraisers are recognized for this purpose, ensuring the integrity and accuracy of the valuation.

D) a Certified Public Accountant

Although Certified Public Accountants (CPAs) have expertise in financial matters, they are not specifically trained to appraise real estate. Therefore, their opinions on market value for real estate transactions do not meet the criteria required for federally-related loans.

Conclusion

The correct answer is definitive as only certified appraisers possess the required training and credentials to provide a reliable opinion of market value for federally-related loans. Other options, while knowledgeable in their fields, do not meet the specific standards needed for accurate property valuation in this context.