Qualified real estate appraiser definition

Qualified real estate appraiser means a certified general real estate appraiser or a state licensed real estate appraiser, as those terms are defined in section 2601 of the occupational code, 1980 PA 299, MCL 339.2601.
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Qualified real estate appraiser means an individual who meets all of the requirements prescribed by the laws of the state in which the appraisal occurs. Florida real estate appraisals must be performed by a “Certified General Appraiser,” as described in Section 475.611, F.S.
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Qualified real estate appraiser means an appraiser who has at least five (5) years' full time commercial appraisal experience in the area in which the Premises are located.
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Examples of Qualified real estate appraiser in a sentence

  • Qualified real estate appraiser" means a certified general real estate appraiser or a state licensed real estate appraiser, as those terms are defined in section 2601 of the occupational code, 1980 PA 299, MCL 339.2601.


More Definitions of Qualified real estate appraiser

Qualified real estate appraiser has the meaning given to such term in Section 2.4(c)(i).
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Qualified real estate appraiser. (as hereinafter defined). Those two (2) Qualified Real Estate Appraisers shall promptly appoint a third (3rd) Qualified Real Estate Appraiser. If such Qualified Real Estate Appraisers fail to appoint such third (3rd) Qualified Real Estate Appraiser within ten (10) business days after notice of their appointment, then either Landlord or Tenant, upon written notice to the other, may request the appointment of a third (3rd) appraiser by the then President of the Board of Realtors in the Cary, North Carolina area or any then similar existing body. Each appraiser so appointed shall independently make appraisals of the Fair Market Rent for the applicable Extended Term. Except as hereinafter provided, the Fair Market Rent for the applicable Extended Term shall be the average of the three (3) appraisals of the Fair Market Rent; provided, however, if the determination of the Fair Market Rent of one (1) Qualified Real Estate Appraiser is disparate from the median of all three (3) determinations of Fair Market Rent by more than twice the amount by which the other determination is disparate from the median, then the determination of such Qualified Real Estate Appraiser shall be excluded, the remaining two (2) determinations shall be averaged and such average shall be binding and conclusive on Landlord and Tenant. If, after notice by either Landlord or Tenant of the appointment of a Qualified Real Estate Appraiser by the party giving such notice, the other party to whom such notice is given shall fail, within a period of ten (10) business days after such notice, to appoint a Qualified Real Estate Appraiser, then the Qualified Real Estate Appraiser so appointed by the party giving notice shall have the power to proceed as sole Qualified Real Estate Appraiser to determine the Fair Market Rent for the applicable Extended Term. Landlord shall pay the fees and expenses of the person appointed by Landlord as a Qualified Real Estate Appraiser hereunder, and Tenant shall pay the fees and expenses of the person appointed by Tenant as a Qualified Real Estate Appraiser hereunder. Landlord and Tenant shall each pay one-half (1/2) of the fees and expenses of the third (3rd) Qualified Real Estate Appraiser appointed pursuant to the provisions of this Paragraph.
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Qualified real estate appraiser means a member of the American Institute of Real Estate Appraisers (or successor organization) having at least ten (10) years experience in appraisal of office buildings and office rental rates in the metropolitan Oklahoma City, Oklahoma area.
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Qualified real estate appraiser. Such Person as may be reasonably acceptable to the Lender provided that such Person must be on the Lender's list of approved appraisers (as modified from time to time).
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Qualified real estate appraiser means a member of the American Institute of Real Estate Appraisers (or successor organization) having at least ten (10) years experience in appraisal of office buildings and office rental rates in the metropolitan Cary, North Carolina area.
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Related to Qualified real estate appraiser

  • Eligible Real Estate means Real Estate:

  • Qualified Appraiser An appraiser, duly appointed by the Seller, who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof, and whose compensation was not affected by the approval or disapproval of the Mortgage Loan, and such appraiser and the appraisal made by such appraiser both satisfied the requirements of Title XI of FIRREA and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated.

  • Undepreciated Real Estate Assets as of any date means the cost (original cost plus capital improvements) of real estate assets of the Company and its Subsidiaries on such date, before depreciation and amortization, determined on a consolidated basis in accordance with GAAP.

  • Appraiser An Independent nationally recognized professional commercial real estate appraiser who (i) is a member in good standing of the Appraisal Institute, (ii) if the state in which the related Mortgaged Property is located certifies or licenses appraisers, is certified or licensed in such state, and (iii) has a minimum of five years’ experience in the related property type and market.

  • Real Estate Asset means, at any time of determination, any interest (fee, leasehold or otherwise) then owned by any Credit Party in any real property.

  • Unencumbered Asset Value means, at any time for the Consolidated Group, without duplication, the sum of the following: (a) an amount equal to (i) Unencumbered NOI from all Unencumbered Properties (other than Non-Stabilized Properties and acquisition properties described in clause (b) below) that have been owned by the Consolidated Group for four full fiscal quarter periods or longer (which amount for each individual Unencumbered Property as well as the aggregate amount for all Unencumbered Properties shall not be less than zero) divided by (ii) the Capitalization Rate, plus (b) the aggregate acquisition cost of all Unencumbered Properties acquired during the then most recently ended four fiscal quarter period, plus (c) the undepreciated book value of Unencumbered Properties that are Non-Stabilized Properties; provided that if the Unencumbered Asset Value attributable to Non-Stabilized Properties accounts for more than 15% of Unencumbered Asset Value, the amount of undepreciated book value of such Non-Stabilized Properties that exceeds such limit shall be deducted from Unencumbered Asset Value, plus (d) cash from like-kind exchanges on deposit with a qualified intermediary (“1031 proceeds”), plus (e) the value of Mezzanine Debt Investments and Mortgage Receivables owned by the Consolidated Group that are not more than ninety (90) days past due determined in accordance with GAAP, in each case that are not subject to a Lien or Negative Pledge; provided that if the Unencumbered Asset Value attributable to Mezzanine Debt Investments and Mortgage Receivables accounts for more than 10% of Unencumbered Asset Value, the amount of Mezzanine Debt Investments and Mortgage Receivables that exceeds such limit shall be deducted from Unencumbered Asset Value, plus (f) the undepreciated book value of all Unimproved Land and Construction in Progress owned by the Consolidated Group to the extent any such assets are not subject to a Lien or Negative Pledge, plus (g) Balance Sheet Cash; provided that, to the extent that Unencumbered Asset Value attributable to investments in Mezzanine Debt Investments, Mortgage Receivables, 1031 proceeds, Unimproved Land, and Construction in Progress account for more than 25% of Unencumbered Asset Value, in the aggregate, the amount that exceeds such limit shall be deducted from Unencumbered Asset Value. For clarification purposes, in determining whether clause (a) or clause (b) above applies, the date a Property will be deemed to have been acquired is the date it was acquired by the Consolidated Group or any prior Affiliate of the Consolidated Group.

  • Appraised Value The value set forth in an appraisal made in connection with the origination of the related Mortgage Loan as the value of the Mortgaged Property.

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • Real estate transaction or "transaction" means an actual or prospective transaction involving a purchase, sale, option, or exchange of any interest in real property or a business opportunity, or a lease or rental of real property. For purposes of this chapter, a prospective transaction does not exist until a written offer has been signed by at least one of the parties.