Code of Maryland Regulations
Title 09 - MARYLAND DEPARTMENT OF LABOR
Subtitle 19 - COMMISSION OF REAL ESTATE APPRAISERS, APPRAISAL MANAGEMENT COMPANIES, AND HOME INSPECTORS - REAL ESTATE APPRAISERS
Chapter 09.19.01 - Appraiser Classifications
Section 09.19.01.01 - Appraiser Classifications

Universal Citation: MD Code Reg 09.19.01.01

Current through Register Vol. 51, No. 19, September 20, 2024

A. An individual who is a licensed real estate appraiser is entitled to provide real estate appraisal services in connection with noncomplex one to four residential units having a transaction value less than $1,000,000, complex one to four residential units having a transaction value of less than $250,000, and commercial properties having a transaction value of less than $250,000.

B. An individual who is a certified residential real estate appraiser is entitled to provide real estate appraisal services in connection with one to four residential units without regard to value or complexity and commercial properties having a transaction value of less than $250,000.

C. An individual who is a certified general real estate appraiser is entitled to provide real estate appraisal services in connection with all types of real property without regard to value, complexity, or whether the property is residential or commercial.

D. In addition to the appraisal services stated in §§A-C of this regulation, a certified or licensed appraiser may provide real estate appraisal services in accordance with regulations adopted by a federal financial institutions regulatory agency or the Resolution Trust Corporation pursuant to 12 U.S.C. § 3341.

E. An individual who is a real estate appraiser trainee may provide real estate appraisal services in accordance with Business Occupations and Professions Article, §16-101, Annotated Code of Maryland, and as stated in §§A-D of this regulation, while:

(1) Under the supervision of a certified residential or certified general real estate appraiser; and

(2) In training to become a certified or licensed real estate appraiser.

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