Appraiser Licensing

Real estate appraiser licensing varies from state to state. To participate in a "federally-related transaction," which is, for example, a mortgage being underwritten by an FDIC bank or NCUA credit union, an appraiser must be licensed or certified by the state that the property is located.  In Indiana, that's either and Certified General Appraiser or Certified Residential appraiser.

The license or certification is evidence that the appraiser has performed a certain number of hours as a trainee under the supervision of a practicing certified appraiser, has passed a state examination, and completed a certain number of hours of continuing education training. 

Prior to the Savings and Loan (S&L) crisis of the late 1980s, which led to appraiser licensing, appraisers had to market their expertise, service, professionalism and association designations.  Some people feel that the creation of state licensing has diluted the appraisal profession. Many consider licensure a bare minimum of what you should expect from an appraiser.

Each appraiser at Truex Appraisal Services, LLC and Truex Residential Appraisers, Inc. has worked hard to establish a reputation for quality and prompt work, performed professionally and ethically, with outstanding customer service. You should never just look for a licensed appraiser; you should be discriminating in choosing your service providers.  Tour our website for valuable information on the experience we have and the service we provide.

You should always be sure your appraisal service provider is not only licensed or certified but is in good standing. The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) maintains a national database of appraisers and their license/certification status.  The list is available publicly at this link.