Question 32

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 qualified and authorized to provide an opinion of market value that meets the standards required for federally-related loans.

A) a certified appraiser

This option is correct as certified appraisers possess the necessary training, experience, and credentials to evaluate real estate properties and provide a reliable estimate of their market value, which is essential for federally-related loan applications.

B) a licensed real estate broker

While licensed real estate brokers have knowledge of the market, they are not necessarily qualified to provide formal appraisals. Their opinions may lack the rigor and standards required for a federally-related loan, making them unsuitable for this purpose.

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

This option is incorrect because not all real estate licensees have the qualifications to provide a supportable opinion of market value. Only certified appraisers are recognized for this task in the context of federally-related loans.

D) a Certified Public Accountant

Certified Public Accountants (CPAs) are experts in financial matters but do not have the specific training required to assess real estate market value. Therefore, they cannot provide the necessary appraisal for seeking federally-related loans.

Conclusion

A certified appraiser is the only option that fulfills the necessary qualifications to provide a supportable opinion of market value for federally-related loans. Other options, while knowledgeable in their fields, do not meet the specific standards required for appraisals, rendering them inadequate for this purpose.