83. Who may give a supportable opinion of market value to be used in seeking a federally-related loan to finance a real estate transaction?
Answer: A
A certified appraiser may give a supportable opinion of market value for federally-related loans.
A certified appraiser is qualified to provide a supportable opinion of market value, which is essential for federally-related loans in real estate transactions. Their education and training enable them to assess property values accurately, meeting the standards required by lenders.
A) a certified appraiser
This option is correct because certified appraisers have undergone specific training and certification processes that equip them with the skills to evaluate properties and determine their market values. Their opinions are recognized by federal lending institutions as reliable and credible.
B) a licensed real estate broker
While licensed real estate brokers have knowledge of the market, they are not necessarily qualified to provide appraisals. Their expertise lies in facilitating transactions rather than formally assessing property values, which may 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 possess the qualifications to appraise property values. The ability to provide a supportable opinion of market value is restricted to certified appraisers to ensure accuracy and compliance with federal guidelines.
D) a Certified Public Accountant
Though Certified Public Accountants have financial expertise, they do not specialize in real estate appraisals unless they also hold the necessary appraisal certifications. Therefore, they cannot provide the required supportable opinion of market value for federally-related loans.
Conclusion
The correct answer is A) a certified appraiser, as only they possess the requisite credentials to provide reliable market value opinions for federally-related loans. Other options, while knowledgeable in their fields, lack the specific training and certification necessary to meet federal standards for property valuation. This distinction is crucial in ensuring that the financing process is based on accurate and credible property assessments.