To be confident of getting an accurate and impartial appraisal, consumers should encourage their lender to select an appraiser who has demonstrated the advanced levels of education and experience required for the MAI, SRPA and SRA designations of the Appraisal Institute. Cost considerations are likely to be negligible.

To obtain an Appraisal Institute designation, members must:

- Demonstrate knowledge of the fundamental principles of real property appraising by passing a series of rigorous examinations

- Demonstrate ability to produce concise, well-reasoned valuations and reports that conform to the Appraisal Institute's strict Code of Ethics and Standards of Professional Practice.

- Complete substantial experience requirements

- Hold an undergraduate degree from a four-year accredited college or equivalent.

- Fulfill continuing-education requirements to maintain their designation.

This commitment to professionalism makes Appraisal Institute members the preferred choice for real estate appraisal services.

Consumers pay for their home/property appraisals. But their lending institution legally owns the appraisal report document. Unless the lender "releases its interest" in the document, it remains the lending institution's property.

Under the Equal Credit Opportunity Act consumers who make a request in writing must be given a copy of the appraisal report. It is in their best financial interest to make this request and to take the time to carefully review the report.

The written appraisal contains valuable and often-revealing information, including the legal and physical description of the property, square footage measurements, list of comparable properties in the neighborhood, a neighborhood description, and a narrative of current real-estate activity and/or market trends in the vicinity.

Consumers and other users of appraisal services can learn more about what is involved in an appraisal from a series of brochures posted on the Appraisal Institute's national Web site at www.appraisalinstitute.org/resources/brochures.asp.

There are nearly 100 local chapters of the Appraisal Institute throughout the United States and Canada. As the leading organization for professional real estate appraisers, the Appraisal Institute represents more than 18,000 members worldwide. Members benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA and SRA designations. Appraisal Institute members adhere to a strictly enforced Code of Professional Ethics and Standards of Professional Appraisal Practice. For more information, visit www.appraisalinstitute.org.

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