• PROJECT 1 - Preparing for a Property Appraisal In this section you will demonstrate your skills and knowledge in relation to : Identifying and applying regulatory and legislative requirements of the property appraisal process Confirming and documenting clients requirements and expectations for a property appraisal Obtain and document agreement to proceed with a property appraisal Confirm and record property ownership, attributes and features relevant to property to be appraised. You are required to undertake the tasks set out below. What you will need: Access to the Learner's guide for this unit of competency Access to a computer and Microsoft Word Access to the Internet for research purposes Access to a range of books, local newspapers and magazines, etc. When: During your own time or as directed by your assessor Instructions: Answer the following questions in the spaces provided. a. Identifying and applying regulatory and legislative requirements of the property appraisal process i. What is the key legislation that agents need to be aware of when undertaking appraisals? In you answer name the Acts and Regulations that apply, giving the full title of the Act/Regulation and relevant Section numbers.
• ii. what you think the role of the agent is in undertaking an appraisal for the owner in regard to their property. canvass the various reasons for an owner seeking a property appraisal.
• iii. Explain your duty in law and under the Rules of Conduct in regard to property appraisals