Basic Appraisal Principles

Real Estate Appraisal Course Details

Basic Appraisal Principles

The Basic Real Estate Appraisal Principles Course is a 30-hour introductory appraisal course that meets the standards set forth by The Appraisal Foundation's required core curriculum.

Basic Appraisal Principles Course Topic Matrix.

The course covers basic real property concepts and characteristics, legal considerations associated with defining, using, and transferring real estate, financing real estate, externalities that influence real estate value, classic economic principles, the application of economic principles to real estate, real estate markets and analysis, and ethics as they relate to the appraiser. This course represents a critical piece of the knowledge foundation that is required for a student to begin their appraisal career.

For each chapter in the course there are key vocabulary words, examples, quizzes, and exams that are provided to reinforce important concepts and test the students' knowledge.

Course Outline

  1. Introduction
  2. Basic Real Property Concepts and Characteristics
  3. Basic Real Property Concepts and Characteristics - Transfer of Title
  4. Real Property Concepts and Characteristics - Legal Descriptions
  5. Legal Considerations - Public and Private Controls
  6. Legal Considerations - Contracts
  7. Legal Considerations - Real Estate Transaction Contracts
  8. Legal Considerations - Real Estate Contracts - Financing
  9. Legal Considerations - Leases
  10. Influences on Real Estate Values
  11. Classic Economic Principles & Types of Value
  12. Economic Principles as Applied to Real Estate
  13. Overview of Real Estate Markets and Analysis
  14. Ethics and How They Apply in Appraisal Theory & Practice

Course Completion Certificate

In order to receive your Course Completion Certificate for the Basic Procedures course, you must successfully complete (with a score of 75 percent or greater) each of the exams and one final exam.

The final exam must be taken under the supervision of a proctor. The guidelines for identifying and utilizing a qualified proctor are provided under the Testing link above.

Additionally, the student must submit an affidavit certifying that the person receiving credit for the course is the same person who took the course. All exams are taken on the Internet, and the exams are instantly graded.

  1. Basic Appraisal Principles by Henry Harrison & Burton Lee.

Using the Course Materials

Read the online learning objectives associated with each chapter

  1. Take the online practice quizzes,
  2. Work the online exercise problems at the completion of each chapter
  3. Study the online flashcards, and
  4. Complete the online chapter exam

All chapter exams must be successfully completed prior to taking the online final exam.

Quizzes, exercises, and exams are all graded instantly.

Exercises include mathematical calculators, interactive worksheets, keyword concepts and short answers. The instructor's responses to the exercises are provided immediately after the student submits his or her answers.

Testing

All testing and grading will occur online. Testing includes quizzes, section exams, and a final exam.

Quizzes are intended to reinforce important concepts and are distributed throughout the course. There is typically one quiz for every two or three pages of text material and each quiz question references the relevant page in the text. If, after two attempts, there are still incorrect answers to the quiz, the correct answers are provided. All quizzes within a section must be completed prior to taking the section exam.

There are two types of exams: section exams, and a final exams. A passing score of 75 percent is required for each exam, and students must pass all exams to complete the course. Exams are graded immediately and results provided online. If a passing score is not achieved, the student is told which questions were answered incorrectly and given a 'study hint' that points to the material the student should review before attempting the exam again.

Final Exam Proctor

  • Step 1: Identify a Proctor

    Identify a proctor from one of the following two categories:

    1. Verified Approval: This can be a librarian, clergy or notary public. For these proctors ONLY, electronic verification is required. Go directly to Step 2 below.

      Students should make arrangements with the proctor of your choice prior to showing up to take the exam. Not all entities provide proctoring services, or provide them only by appointment.

    2. Advanced Approval Required: Any non-related individual not listed above
    • You must have your proctor approved by VanEd BEFORE taking the exam.
    • Complete a Proctor Approval Form and send to VanEd by email (proctor@vaned.com) or fax (360) 935-6081.
    • Be sure to include a copy of the proctor's government issued photo ID with the Proctor Approval Form.
    • You may NOT access the exam until we approve your proctor. The approval is sent to your email address that we have on file during our normal business hours of 9am to 5pm Mountain time. Please plan accordingly.

  • Step 2: Print a copy of the Proctored Exam Documents

    Print a copy of the Proctored Exam Documents, which consists of the following three pages:

    1. Proctor Instructions: Present this to your proctor prior to starting the exam
    2. Proctor Affidavit: To be completed by the proctor after PASSING the exam
    3. Student Affidavit: To be completed by you after PASSING the exam.

  • Step 3: Complete the Online Exam

    • The proctor you are using must be identified prior to starting the exam. For Verified Approval proctors (Step 1A), you must enter the proctor name online before the exam will begin. For Advanced Approval proctors (Step 1B), the proctor name that VanEd has pre-approved will be shown to you prior to starting the exam. In either case, the proctor identified prior to the exam must match the affidavits submitted after you pass the exam or completion certificates may be withheld.
    • Exams are CLOSED BOOK, and no reference material of any kind is allowed.
    • Calculators ARE allowed.
    • Copying, printing, or otherwise removing material from the exam is prohibited.

  • Step 4: Email or Fax the Proctor Affidavit and Student Affidavit

    Email or Fax the Proctor Affidavit and Student Affidavit to:

    We will release course completion certificates once the affidavits are received. All proctor information submitted will be verified for both the Verified Approval proctors as well as the Advanced Approval proctors. Submission of incomplete or incorrect proctor information is grounds for certificates of completion to be withheld.

Appraisal Catalog

Please read the VanEd Real Estate Appraisal School Catalog.

Course Preview

Land treaties in the United States

Land Treaties in the United States

Easements

Easement Examples with Exercises

What is Real Property and Land

Land Segmentation/Real Estate vs Real Property

Certified by IDECC

IDECC approved real estate appraisal course

The International Distance Education Certification Center (IDECC) has accepted this course delivery. Students who take this course are encouraged to provide IDECC with feedback about their learning experience.

Certified by the Appraisal Foundation's Appraisal Qualifications Board

Approved by the Appraisal Foundation's Appraisal Qualifications Board

All VanEd appraisal licensing courses are AQB-Approved. The Appraisal Foundation's Appraisal Qualifications Board (AQB) uses independent appraisal educators who are selected for their knowledge and experience in appraising to review all courses that are approved by the AQB. The AQB chief reviewer also reviews the courses to assure objectivity and quality control.



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