What is an "MAI Appraisal" ?
An MAI appraisal, commonly misspelled as MIA Appraisal is not a type of appraisal
but an appraisal performed by an MAI appraiser.
An MAI is an appraiser that possesses the MAI designation, which is depicted
following the appraisers name, such as David J. Glauber, MAI.
The MAI stands for Member of the Appraisal Institute, which is the highest
achievement that is available to an appraiser. The requirements to become an MAI
essentially double the requirements set forth for a certified general appraiser. Bear
in mind that an MAI Appraiser is also a Certified General Appraiser.
Virtually all large real estate transactions require an MAI Appraisal and the
designation is recognized anywhere in the world.
The question is do you need an MAI Appraisal? MAI's do all levels of appraisal work,
even simple assignments. Since the assignments are less complex, the fee is also
less and is not necessarily higher than a Certified General Appraiser that is not an
MAI. Therefore, if you need an appraisal of any level, why would you not ask for the
best. So please call us for your MAI Appraisal, our number is 888-267-1543.
If you need an MAI Appraisal, please give us a call, we would be delighted to perform
David J. Glauber, MAI
The following is an excerpt from
ezinearticles.com/? What Is An MAI Appraisal
MAI appraisals are among the most sought after appraisals in the commercial real estate world. MAI stands
for Member of the Appraisal Institute, a trade organization which monitors appraisers and holds them to a
higher standard than appraisers who are merely licensed and do not belong to such an organization.
There are other appraisal trade organizations active in the world of real estate. However, MAI is the best
known, and thus the most popular.
Technically, there is no such thing as an "MAI appraisal." There are only appraisals performed by an
appraiser who has completed the MAI Appraisal Institutes class offerings, and holds this designation.
However, it's often much easier to refer to the appraisal itself as being certified than to hold to technicalities.
An appraiser who has earned the MAI designation is qualified to and experienced in the performance of
both residential and commercial properties. Many other appraisers are only qualified for residential
property. At one point, lenders were likely to require that an appraisal be done by an MAI certified
appraiser, or a member of another trade organization. However, this has been unlawful since 1989, as
there is not federal regulation of these organizations. Still, certified appraisals can increase the chances of
a favorable lending situation, since the lender will feel more comfortable. An MAI certified appraisal offers
lenders a reliability that allows them to be confident in their investment.
A commercial appraisal by an MAI certified appraiser can include many things. Generally, it will provide an
overview of the community, neighborhood, and general area in which the property is situated, as well as a
detailed description of the site and all buildings it contains. Zoning analysis, an analysis of the highest and
best use for the property, and an in depth discussion of the property's value from several different
approaches will also be included. The appraiser may also make a recommendation of which valuation is
most appropriate in his or her opinion.
Appraisers tend to be conservative in their estimates. However, this does not mean that one will receive a
low appraisal. An MAI certified appraisal firm assumes liability if the appraisal is too high, and the property
cannot be sold for the price they recommend. The firm also assumes liability if the price is too low and the
property is sold for too little money. Because of this, appraisers have a vested interest in making sure that
their estimates are in the middle range. Which sales an appraiser places the most emphasis on will depend
in the type of market. In a rising market, emphasis will be placed on higher recent sales, and in a falling
market, that emphasis will go to lower recent sales. A good appraiser is interested in giving clients the most
accurate estimate possible.
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10507 Watterson Tr., 2nd Flr
Louisville, KY. 40299
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Page updated January 21, 2014