Knowledge and Experience

AMC’s must use appraisers that

• have the requisite knowledge required to perform a professional quality appraisal for the specific geographic location and particular property type; and

• have the requisite knowledge about, and access to, all necessary and appropriate local data sources for the subject property's geographic area, including multiple listing service(s) and government records.

Appraisers that are not familiar with specific real estate markets may not have adequate information available to perform a reliable appraisal. Although the Uniform Standards of Professional Appraisal Practice (USPAP) allows an appraiser that does not have the appropriate knowledge and experience to accept an appraisal assignment by providing procedures with which the appraiser can complete the assignment, Homium does not allow the USPAP flexibility.