April 30, 2014
The North Carolina Appraisal Board is currently in the process of adding and amending rules that govern appraisers, AMCs, and appraisal education. As usual, the Board is giving the public ample opportunity to have their say on the proposed changes.
A public hearing is scheduled as follows:
Date: May 6, 2014
Time: 9:00 am
Location: NC Appraisal Board; 5830 Six Forks Road; Raleigh, NC 27609
Contact: Roberta Ouellette
Written comments can be emailed to Roberta Ouellette, mailed to the address above, or sent by fax to 918-870-4859. All correspondences must arrive at the Board office on or before the May 6th hearing date.
There are a number of proposed changes that will be considered during the hearing, with some that are expected to be more impactful than others. These include:
57C .0101 Form of Complaints and Other Pleadings
The addition to the existing rule will make complaints invalid if they are submitted after “the applicable USPAP recordkeeping period for the appraisal involved in the complaint has expired.”
Currently the Board is able to receive, open, investigate, and prosecute complaints on appraisals that are older than the five-year minimum workfile retention period set by the Recordkeeping Rule of USPAP. It seems that many appraisers would be in favor of this change, but the Board doesn’t know your position on this unless you let them know. A simple email to the Board expressing your opinion on 57C.0101 would be helpful.
57D .0310 Payment of Fees To Appraisers
Addition to this rule provides more detail on an AMC’s method of payment (electronic or check) to an appraiser and more detail on how an AMC can comply with the statute that requires all payments to be made within 30 days.
57A .0407 Supervision of Trainees
This rule change would require all trainees to have their Supervisor Declaration Form in to the Board ON OR BEFORE the day in which they are scheduled to begin assisting their supervising appraiser.
57A .0201 Qualifications For Trainee Registration And Appraiser Licensure and Certification
Anyone applying for licensure and certification will need to have completed 150 hours of education, as outlined in 21 NCAC 57B .0102, or at least have education that the Board deems to be the equivalent of the aforementioned training. Furthermore, applicants looking to become a licensed real estate appraiser need to be in possession of at least an Associate’s degree from an accredited school. Applicants must also have 2,500 hours of appraisal experience over a period of 2 calendar years.
As mentioned earlier, these are just a few of the changes being proposed at the upcoming hearing. A full list of the proposed changes, as well as detailed information on each, can be found by visiting the Rule Making section of the NC Appraisal Board website.
All appraisers are encouraged to participate in the rulemaking process and to express their opinions either in writing prior to the hearing or in person at the May 6th hearing.