Basic Appraisal Procedures
Real Estate Appraisal Course


Basic Appraisal Procedures - Course Details

The Basic Appraisal Procedures Course is a 30-hour introductory appraisal course that meets the standards set forth by The Appraisal Foundation's required core curriculum. (Click here for a topic matrix).

The course covers the valuation process including defining the appraisal problem, collecting and selecting data, describing the subject property, the three traditional approaches to value (cost approach, sales comparison approach, and income approach), reconciliation, communicating the appraisal results, and sample completed appraisals. 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. Overview of Approaches To Value
  2. Valuation Procedures - Definition of the Problem
  3. Valuation Procedures - Collecting and Selecting Data
  4. Valuation Procedures - General Data Analysis
  5. Property Description - Location (Market Area and Neighborhood)
  6. Property Description - Geographic and Geologic Characteristics Land / Site
  7. Land / Site Considerations for Highest and Best Use
  8. Property Description - Improvements - Architectural Styles & Types of Construction
  9. Valuation Procedures - Specific Data Analysis - Highest and Best Use
  10. Valuation Procedures - Specific Data Analysis - Sales Comparison Approach
  11. Specific Data Analysis - Cost Approach
  12. Valuation Procedures - Specific Data Analysis - Income
  13. Reconciliation and Final Opinion of Value
  14. Communicating the Appraisal
  15. Residential Applications

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.

Course materials

The following reference book is provided by VanEd:

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

Using the Course Materials

The course is designed to use the course textbook in close conjunction with the internet material as follows:

  1. read the online learning objectives associated with each chapter,
  2. study the corresponding chapter in the textbook,
  3. take the online practice quizzes, typically covering two to three pages of textbook material,
  4. work the online exercise problems at the completion of each chapter,
  5. study the online flashcards, and
  6. 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 each 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 exam. 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 from one of 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 which consists of 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 to:
  • Email: proctor@vaned.com
  • Fax: (360) 935-6081

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 CLICK HERE to open the Appraisal School Catalog

 

IDECC Certification

all appraisal courses are IDECC approved

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.

Appraisal Foundation Certification

all appraisal courses are AQB approved

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.