Question 36

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 is specifically trained and authorized to provide an objective opinion of market value, which is essential for federally-related loans in real estate transactions.

A) a certified appraiser

This option is correct because certified appraisers possess the necessary qualifications and expertise to assess property values in a standardized manner, which is crucial for lenders when evaluating loan applications tied to real estate transactions.

B) a licensed real estate broker

While licensed real estate brokers have significant knowledge of the market, they are not specifically trained to provide formal appraisals. Their opinions may be valuable for informal estimates, but they do not meet the rigorous standards required for federally-related loans.

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 or training to provide formal market value opinions. Only those with appraisal certifications can give supportable opinions that meet federal standards.

D) a Certified Public Accountant

Although CPAs are skilled in financial assessments and valuations, they are not trained specifically in real estate appraisals unless they hold additional certification. Therefore, they cannot provide a supportable opinion of market value for real estate transactions involving federally-related loans.

Conclusion

The correct answer is A) a certified appraiser, as they are the only professionals qualified to provide the necessary market value opinions for federally-related loans. Other options either lack the specific training required or do not meet the federal standards necessary for such financial assessments.