Sec. 1113. TRANSACTIONS REQUIRING THE SERVICES OF A STATE CERTIFIED APPRAISER
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## SEC. 1113 TRANSACTIONS REQUIRING THE SERVICES OF A STATE CERTIFIED APPRAISER **[**[12 U.S.C. 3342](/us/usc/t12/s3342)**]** In determining whether an appraisal in connection with a federally related transaction shall be performed by a State certified appraiser, an agency or instrumentality under this title shall consider whether transactions, either individually or collectively, are of sufficient financial or public policy importance to the United States that an individual who performs an appraisal in connection with such transactions should be a State certified appraiser, except that— ####
(1)a State certified appraiser shall be required for all federally related transactions having a value of $1,000,000 or more; and ####
(2)1-to-4 unit, single family residential appraisals may be performed by State licensed appraisers unless the size and complexity requires a State certified appraiser5. 5Section 1473(e)(2) of Public Law 111–203 provides for an amendment to section 1113 of “the Financial Institutions **[**and**]** Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3342)” to insert before the period the following: “, where a complex 1-to-4 unit single family residential appraisal means an appraisal for which the property to be appraised, the form of ownership, the property characteristics, or the market conditions are atypical”. The reference to the amended law probably should not have included the word “and” after “Financial Institutions”.
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- Pub. L. 111-203
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Sec. 1113
TRANSACTIONS REQUIRING THE SERVICES OF A STATE CERTIFIED APPRAISER
Pub. L.Pub. L. 111-203
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