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Real Estate Appraiser, Non Federal
License Description Description of Occupation: A Real Estate Appraiser, Non - Federal, appraises improved or unimproved real property to determine value for purchase, sale, investment, mortgage, or loan purposes. Interviews persons familiar with property and immediate surroundings, such as contractors, home owners, and other realtors to obtain pertinent information. Inspects property for construction, condition, and functional design and takes property measurements. Considers factors, such as depreciation, reproduction costs, value comparison of similar property, and income potential, when computing final estimation of property value. Searches public records for transactions, such as sales, leases, and assessments. Prepares written report, utilizing data collected and submits report to corroborate value established.Requirements for Licensing: Bachelors Degree or Higher w/15 Classroom hours appraisal related courses Two Years Experience Local Examination or AA Degree in Business 30 Credit Hours of Appraisal Related Courses Four Years Experience Local Examination or 50 Credit Hours of Appraisal Related Courses Six Years Experience Local Examination Licensed Residential - At least 50% of the experience must have been in major residential appraisal work. Licensed General - At least 50% of the experience must have been in major non-residential appraisal work. Applicants for the Non-Federal related transactions must meet the education, experience and must take and pass the local appraisal examination approved by the Board, possess a reputation for honesty, truthfulness, fairness and financial integrity and has not been convicted of a crime related to the real estate appraisal profession. All applicants must submit three notarized references from individuals who have had dealings with the applicant relating to the applicant's real estate appraisal experience and to verify the reputation for honesty, truthfulness, fairness and financial integrity of the applicant. All licenses/certificates expire two years following issuance or renewal and become invalid after that date unless renewed. You are required to keep this office informed of any change in your mailing address.Examinations: Local appraisal exam.Application and Fees: Schedule of Fees Application Fee $100.00 License of Certificate Fee $100.00 Renewal Fee 50.00 Inactive Fee 20.00 Reactivation Fee 20.00 Restoration Fee 20.00 Recognition of License/Certificate (Temp.) 25.00 Local Examination Fee 75.00 Examination fee shall be as provided by contract with a professional testing organization.Related Classification Codes: DOT 191.267-010 SOC 4123
Licensing Agency
Board of Professional Licensing
Northern Mariana Islands
PO Box 2078
Saipan, MP 96950
(670) 234 5897
Active Status Active
Criminal Record Specific type of conviction prohibited
Education Degree required
Exam State exam required
License Type Stand-alone license
License Updated 01/01/2010

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