Appraisal

• R162-2g-304d (Effective date: 11/05/2019)

  Rule Sub-Heading: Clarify that an appraiser will not earn experience hours for the performance of an evaluation.

• R162-2g-502a (Effective date: 11/05/2019)

  Rule Sub-Heading:

  • Clarify that a licensed or certified appraiser and trainee, when performing an evaluation, is exempt from Standards 1 through 3 of USPAP.
  • Clarify what information a school or continuing education provider shall upload after course completion.

• R162-2g-311 (Effective date: 6/30/2020)

  Rule Sub-Heading: Clarify that a licensed or certified residential appraiser is not to appraise commercial property.

• R162-2g-502a (Effective date: 6/30/2020)

  Rule Sub-Heading:

  • updates the rule to require that immediately following the signature on a report, state either the credential type or the license or certification number assigned by the division.
  • Clarify that an appraiser who performs an evaluation is exempt from complying with Standard 4 of USPAP.
  • Allow an appraiser trainee to sign an appraisal report if the trainee performs significant appraisal assistance and the trainee’s supervisory appraiser also signs the report.
  • Clarify that only a registered appraiser trainee or a licensed or certified appraiser may include in a property inspection report appraisal assignment results including appraiser analyses, opinions, or conclusions, and may also report on the physical characteristics of the property. An unlicensed person may only report on the physical characteristics of the property in a property inspection report*.

*On September 23, 2020, the Board voted to remove the amended language in Subsection 502a(8).