Qualified Appraiser

DEFINITION of 'Qualified Appraiser'

An individual who has earned an appraisal designation from a professional appraiser organization, or has met minimum education and experience requirements in the subject matter in which he or she issues appraisals. A qualified appraiser performs appraisals on a regular basis, and receives compensation for his or her work. The professional must not be prohibited from practicing before the Internal Revenue Service (IRS).

BREAKING DOWN 'Qualified Appraiser'

Qualified appraisers are required by the IRS to appraise any piece of property valued at $5,000 or more on which a taxpayer requests a tax deduction. Because qualified appraisers are more experienced and knowledgeable about a particular type of property, the IRS uses them in order to ensure that the taxpayer is not overstating the value of the donated property. A qualified appraiser must perform an appraisal based on generally accepted appraisal standards.

RELATED TERMS
  1. Appraised Value

    An evaluation of a property's value based on a given point in ...
  2. Qualified Appraisal

    An appraisal document that is created, signed and dated by a ...
  3. Appraisal

    A valuation of property (ie. real estate, a business, an antique) ...
  4. Appraisal Management Company - ...

    An independent entity through which mortgage lenders order residential ...
  5. Appraisal Costs

    A specific category of quality control costs. Companies pay appraisal ...
  6. Appraisal Right

    The statutory right of a corporation's minority shareholders ...
Related Articles
  1. Personal Finance

    Your Heirloom Jewelry: How Much Is It Worth?

    You grandma's diamonds are now yours. Whether you plan to keep them or not, you first need an honest appraisal. Here's how to get one.
  2. Home & Auto

    What You Should Know About Home Appraisals

    The home appraisal is a key part of any loan-closing checklist. It’s an unbiased professional opinion of a home’s value.
  3. Home & Auto

    How To Refinance If Your Home Appraisal Is Too Low

    When you take out a mortgage on a home or refinance an existing mortgage, most lenders want a loan-to-value ratio (LTV) of 80 percent or lower.
  4. Home & Auto

    Exploring Real Estate Investments: Finding Investment Value

    By Ian Woychuk, CFA Real estate returns are generated in two ways. First, the income return comes from tenants' rent payments. The income return is a straightforward calculation because all you ...
  5. Home & Auto

    Homeowners Overestimating the Value of Their Homes

    A new survey by Quicken Loans shows homeowners often have a lofty expectation of their home's value.
  6. Home & Auto

    What You Should Know About Real Estate Valuation

    Anyone involved in a real transaction can benefit from gaining a basic understanding of the different methods of real estate valuation.
  7. Saving and Spending

    How to Value Art and Dodge the IRS on Death Taxes

    Appraising artwork can be a very inexact process, and an estate could face penalties from the IRS for undervalued works. Here's how to best price art.
  8. Home & Auto

    The Nation's Mortgage Horror Stories

    A certain number of errors is understandable given the volume of foreclosures and repossessions handled by lenders, but many were simply administrative errors.
  9. Home & Auto

    Explaining the Income Approach

    The income approach is one of the three main methods that appraisers use to value property.
  10. Insurance

    How To Insure Your Wedding Ring

    Read on for everything you need to know to make sure this precious possession is covered against theft, damage, loss and more.
RELATED FAQS
  1. How is market value determined in the real estate market?

    Learn how fair market value is determined during a real estate appraisal and how market values are really decided by professional ... Read Answer >>
  2. What is the underwriter's job in a real estate transaction?

    Find out why the underwriter may be the most important person in your real estate transaction, and learn what information ... Read Answer >>
  3. An appraiser forms the following estimates for a rental property ...

    Free info on financial certification exams including study guides, exam questions, and much more! Read Answer >>
  4. What is the difference between market capitalization and revenue?

    Understand the definitions of market capitalization and revenue, how each is calculated and how each reflects the value of ... Read Answer >>
  5. What are the differences between personal and business tangible net worth?

    Understand what the term tangible net worth represents, its significance, and how the calculation of net worth differs for ... Read Answer >>
  6. Can the IRS take your house?

    Understand why a person would have his home seized by the IRS and what he can do to avoid it. Learn about the seizure process ... Read Answer >>
Hot Definitions
  1. Demand Curve

    The demand curve is a graphical representation of the relationship between the price of a good or service and the quantity ...
  2. Goldilocks Economy

    An economy that is not so hot that it causes inflation, and not so cold that it causes a recession. This term is used to ...
  3. White Squire

    Very similar to a "white knight", but instead of purchasing a majority interest, the squire purchases a lesser interest in ...
  4. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  5. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  6. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
Trading Center