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. Appraisal Approach

    A procedure for determining an asset's value. The appraisal approach ...
  2. Appraised Value

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

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

    A form of accounting adjustment. Appraisal capital is created ...
  5. Appraisal Method Of Depreciation

    A form of depreciation calculation that is based upon appraisal ...
  6. Appraisal Costs

    A specific category of quality control costs. Companies pay appraisal ...
Related Articles
  1. Personal Finance

    How To Challenge A Low Home Appraisal

    If you're unhappy with your home appraisal, here are some steps you can take.
  2. Personal Finance

    The Home Appraisal: Key To A Successful Refinance

    An appraisal is a professional’s assessment of a home’s value that ensures banks don’t lend more money than a property is worth.
  3. Managing Wealth

    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.
  4. Personal Finance

    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.
  5. Investing

    6 Tips For Protecting Your Home's Value

    New taxes, property values, appraisals, community changes and nearby abandoned foreclosures can all lower your home's value. Take proactive steps to protect it.
  6. Investing

    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 ...
  7. Personal Finance

    Evaluating An Heirloom

    Whether it's jewelry, furniture or a book collection, once you inherit it you need to decide what to do with it. First, find out what it's worth.
  8. Personal Finance

    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.
  9. Personal Finance

    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.
  10. Financial Advisor

    Real Estate Careers And Their Designations

    The real estate industry offers a wide variety of career opportunities and dozens of designations to increase your skills.
RELATED FAQS
  1. How do I refinance my home without paying PMI?

    I received one loan of $222,000 and a second of $22,000. I would like to refinance my home, but I do not want to pay PMI. ... Read Answer >>
  2. How can I tell when a real estate agent might be lying to me?

    Find out what real estate agents are likely to lie about, the reasons for the lies and how to protect yourself from unscrupulous ... Read Answer >>
  3. 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 >>
  4. Do FHA loans require escrow accounts?

    Understand how FHA mortgages require escrow accounts for property taxes, homeowners insurance and mortgage insurance premiums ... Read Answer >>
  5. Are there any pure arm's-length markets?

    Learn about arm's length markets and transactions. Explore situations when different market participants may not be at arm's ... Read Answer >>
Hot Definitions
  1. GBP

    The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories ...
  2. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  3. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  4. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  5. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  6. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
Trading Center