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Indiana Real Estate Appraiser

 
 

 

Indiana Flag

Indiana Flag

  • Capital - Indianapolis
  • Largest City - Indianapolis
  • Area - 36,418 sq mi (38rd largest state)
  • Became a state - December 11, 1816 (19th)
 
 

The Indiana Real Estate Appraiser Certification Board currently issues three types of licenses. They are the Indiana Licensed Trainee, Certified, and General Real Estate Appraiser. The Indiana Board in conjunction with respective Licensure Law serves to protect the general public from Indiana real estate appraisers. The Real Estate Appraiser Board makes recommendations concerning the implementation and operation of the real estate appraiser license and certification program under IC 25-34.1-3-8. Also, the Indiana Real Estate Appraiser Board helps to:

  • Approve and disapprove applicants for licensure and certification.
  • Issues licenses and certificates.
  • Suspends and revokes licenses.

The Indiana Real Estate Appraiser Board consists of seven members. Each respective Indiana Real Estate Appraiser Board member serves for a term of four years.

  • Five members are real estate appraisers who have at least five years experience. At least three of five are licensed or certified.
  • One members who represents lenders qualified to make Federal Housing Administration and VA guaranteed loans.
  • One member who is not associated with the real estate business in any way other than as a consumer.

It is unlawful for an individual to act as an Indiana real estate appraiser. An individual who violates respective Indiana real estate appraiser law may be guilty of a misdemeanor for a first offense or a felony for any future offenses.

The State of Indiana has 92 counties.

Adams Allen  Bartholomew  Benton
Blackford Boone Brown Carroll
Cass Clark Clay Clinton
Crawford Daviess Dearborn Decatur
DeKalb Delaware Dubois Elkhart
Fayette Floyd Fountain Franklin
Fulton Gibson Grant Greene
Hamilton Hancock Harrison Hendricks
Henry Howard Huntington Jackson
Jasper Jay Jefferson Jennings
Johnson Knox Kosciusko La Porte
LaGrange Lake Lawrence Madison
Marion Marshall Martin Miami
Monroe Montgomery Morgan Newton
Noble Ohio Orange Owen
Parke Perry Pike Porter
Posey Pulaski Putnam Randolph
Ripley Rush Scott Shelby
Spencer St. Joseph Starke Steuben
Sullivan Switzerland Tippecanoe Tipton
Union Vanderburgh Vermillion Vigo
Wabash Warren Warrick Washington
Wayne Wells White Whitley

There are currently three classifications of Indiana Real Estate Appraisers.

  1. Licensed Trainee Real Estate Appraiser
  2. Certified Residential Real Estate Appraiser
  3. Certified General Real Estate Appraiser

Please read the following for a summarization of each.

1. Licensed Real Estate Trainee Appraiser

  • Minimum of 90 classroom hours of specific course content.
  • 15 hours in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
  • Must have supervisor signature on all reports.
  • May only appraise properties under the scope of work of supervising appraiser.

2. Certified Residential Real Estate Appraiser

  • May perform any appraisal on any four unit or less property.
  • May perform appraisal for federally financed purposes for residential properties without regard to value.
  • Minimum of 200 classroom hours of specific course content.
  • 15 hours in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
  • Must have at least 2,500 hours of real property appraisal experience over a 24 month period.
  • Must have an Associate's degree or equivalent from an accredited institution or 21 semester hours in respective classes.
  • Must pass the Indiana certified residential real estate appraiser examination.

3. Certified General Real Estate Appraiser

  • May perform appraisals for all real estate for any purpose.
  • Minimum of 300 classroom hours of specific course content.
  • 15 hours in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
  • Must have at least 3,000 hours of real property appraisal experience over a 30 month period.
  • Must have a Bachelor's degree or higher from an accredited institution or 30 semester hours in respective courses.
  • Must pass the Indiana certified general real estate appraiser examination.

All appraisal work must be in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP).

A Indiana real estate appraiser must provide access to all appraisal records an related documentation upon request by Indiana professional licensing agency compliance officers for investigative purposes.

Continuing education is required to ensure that the appraiser maintains and increases appraiser knowledge. The Indiana Real Estate Appraiser must complete a total of 15 hours during each renewal period to meet the Continuing Education requirement.

If you would like to find a job as a Indiana Real Estate Appraiser, click here.

lndiana Real Estate Appraiser Search

The Appraisal Process - Overview of the on-site inspection, report generation, and respective guidelines.