The use of non-appraiser evaluations or “desktops” is under scrutiny at the state level, with some states requiring, or moving toward requiring, a licensed or certified appraiser to prepare any desktop valuation.
As one example, here is a link to the proposed Pennsylvania rulemaking. Essentially, the logic is that desktop valuations cannot be completed by non-appraisers if state appraiser laws include the products within the definition of appraisals. Other states may also follow this interpretation.
Be proactive for 2016. If you’re using desktop valuations in your business, be sure to keep tabs on each state law to ensure you’re in compliance. If you need help identifying state requirements, please contact us. Or consider moving to Accurate ValueNet™. ValueNet appraisals are developed by a licensed or certified appraiser and deliver an appraisal comparable to a 1004 or 2055 – but with a much faster turnaround time.
Contact Accurate Group today to learn more about the nuances of these regulations and how they impact your business. We can help you identify and address compliance gaps in your appraisal management processes and technology.
Legal: Appraisal Tip of the Month (“TIP”) is a publication of Accurate Group, LLC and is intended to provide current insights to recipients. Tip should not be construed as legal advice or a legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only. You should not act or refrain from acting based upon any information in this TIP without seeking the appropriate legal or other professional advice on the particular facts of your situation. Accurate Group, LLC makes no warranty of any kind with respect to the subject matter included herein or the completeness or accuracy of this publication.
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