Name one type of appraisal that requires a Certified General Appraiser license in Arizona.

Name one type of appraisal that requires a Certified General Appraiser license in Arizona.

• A. Appraisal of residential properties
• B. Appraisal of commercial properties
• C. Appraisal of vacant land
• D. Appraisal of agricultural properties

Answer: (B)

In Arizona, a Certified General Appraiser license is required for the appraisal of commercial properties. This licensing designation permits appraisers to assess all types of real estate, including commercial, industrial, and other non-residential properties. The complexities and valuation methods associated with commercial property appraisals often necessitate a higher level of expertise and knowledge than is typically required for residential property appraisals, making the Certified General Appraiser license essential for this type of work. Residential properties generally require a lower-level designation, such as a Licensed Residential Appraiser, while other options, such as vacant land or agricultural properties, may fall under various licensing requirements based on their specific use and valuation complexity. Commercial properties, however, require a thorough understanding of market analysis, income approaches, and often involve larger valuations, which is why the Certified General designation is mandated in this context.

In Arizona, a Certified General Appraiser license is required for the appraisal of commercial properties. This licensing designation permits appraisers to assess all types of real estate, including commercial, industrial, and other non-residential properties. The complexities and valuation methods associated with commercial property appraisals often necessitate a higher level of expertise and knowledge than is typically required for residential property appraisals, making the Certified General Appraiser license essential for this type of work.

Residential properties generally require a lower-level designation, such as a Licensed Residential Appraiser, while other options, such as vacant land or agricultural properties, may fall under various licensing requirements based on their specific use and valuation complexity. Commercial properties, however, require a thorough understanding of market analysis, income approaches, and often involve larger valuations, which is why the Certified General designation is mandated in this context.