Current through Reg. 49, No. 38; September 20, 2024
(a) License holders
are bound by the USPAP edition in effect at the time of the
appraisal.
(b) Certified General
Real Estate Appraisers may appraise all types of real property without regard
to transaction value or complexity.
(c) Certified Residential Real Estate
Appraisers:
(1) may appraise one-to-four
residential units without regard to transaction value or complexity;
(2) may appraise vacant or unimproved land
for which the highest and best use is for one-to-four family
purposes;
(3) may not appraise
subdivisions; and
(4) may associate
with a state certified general real estate appraiser, who shall sign the
appraisal report, to appraise non-residential properties.
(d) State Licensed Real Estate Appraisers:
(1) may appraise non-complex one-to-four
residential units having a transaction value less than $1 million and complex
one-to-four residential units having a transaction value less than
$400,000;
(2) may appraise vacant
or unimproved land for which the highest and best use is for one-to-four unit
residential purposes;
(3) may not
appraise subdivisions; and
(4) may
associate with a state certified general real estate appraiser, who shall sign
the appraisal report, to appraise non-residential properties.
(e) Appraiser Trainees may
appraise those properties, under the active, personal and diligent supervision
of their sponsoring appraiser, which the sponsoring appraiser is permitted to
appraise.
(f) If an appraiser or
appraiser trainee is a person with a disability (as defined in the Americans
with Disabilities Act or regulations promulgated thereunder), an unlicensed
assistant may perform certain services normally requiring a license for or on
behalf of the appraiser or appraiser trainee, provided that:
(1) the services performed by the assistant
do not include appraisal analysis;
(2) the assistant only provides such services
as would constitute a reasonable accommodation;
(3) the assistant is under the direct control
of the appraiser or appraiser trainee;
(4) the appraiser or appraiser trainee is as
close in physical proximity as is practical to the activity;
(5) the assistant is not represented as being
or having the authority to act as an appraiser or appraiser trainee;
and
(6) if the assistant provides
significant assistance, the appraisal report includes the name of the
assistant.
