Understanding and Appraising Residential REOs

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Who should enroll Residential Appraisers

Since the Great Recession, there have been changes in lending practices. The economic conditions caused by the recession created a need for appraisers who have specific knowledge and experience to properly develop and document opinions of real property value in foreclosure.

Understanding and Appraising Residential REOs provides an overview of the history related to the current foreclosure practices, causes of foreclosure, and steps in the foreclosure process. Appraisers will learn how to identify assignment elements including the client, intended users, value, and other assignment conditions. Through a series of dilemmas and a case study, appraisers will gain an understanding of the scope of work, proper inspection procedures, market analysis, and additional components needed to arrive at credible results for a foreclosure appraisal assignment.

  • Understand the needs of clients who order appraisals for preforeclosure, foreclosure, or postforeclosure decisions.
  • Recognize the range of services that an appraiser can provide in preforeclosure, foreclosure, or postforeclosure decisions.
  • Identify the elements involved in completing assignments.
  • Differentiate between various types of value definitions.
  • Identify the market for a property.
  • Formulate a proper scope of work when completing appraisal assignments in a preforeclosure, foreclosure, or postforeclosure decision.
  • Understand inspection requirements for assignments in a preforeclosure, foreclosure, or postforeclosure decision.
Prerequisites None

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4 hours
Classroom Recommendations and Requirements Synchronous Recommendations and Requirents
Classroom Requirements

Online Education FAQ

Synchronous Requirements

Online Course Access
Go to www.appraisalinstitute.org and log in with the username and password you used when you registered. Click on the red “My Account” button if you are not automatically taken to your account page.
1. Click "Education and Events" on the right navigation menu.
2. Find the course under the “Online Courses” heading and click the “Begin” button.
IMPORTANT NOTE: Once this button is clicked, your access length time (e.g. 90 days) will begin. Only click when you intend to start the course. If you are returning, once you have started the course, click the “Continue” button to continue.

Technology-Based Education Student Disclaimer
I agree to the terms and policies set forth under the Appraisal Institute Education Policy. I also certify that I am the person identified under Personal Data and that I will personally complete each assigned component of instruction and any examination(s). I understand and agree that if I misrepresent my identity or arrange for someone else to represent himself or herself as me at any time during the Appraisal Institute online course or seminar, I will be immediately removed from the course or seminar and I will not be entitled to any refund. I further understand that if I am a Designated member, Candidate for Designation, Practicing Affiliate, or Affiliate of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute, and such peer review proceeding may result in termination of my Appraisal Institute membership, candidacy, and/or affiliation.

Other Details
For information about how on demand online education programs work, registration and cancellation policies, and other details, see our On Demand Online Education Frequently Asked Questions.


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