458.37 Appraiser competency.

170 words·~1 min read·/wi/chapter-458/458-37-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Before assigning an appraisal service to an appraiser, a licensed appraisal management company shall verify that the appraiser has the requisite license or certification, education, expertise, experience, and competency necessary to complete the appraisal assignment for the particular market and property type in accordance with the Uniform Standards of Professional Appraisal Practice described under s. 458.24 , and that the independent appraiser is a certified appraiser or licensed appraiser in good standing with the board.

(b)A licensed appraisal management company that has reviewed the work of an appraiser under sub.

(4)shall consider the review for the purposes of verifying the competency of an appraiser for future work.

(a)At or before the time an appraiser accepts an appraisal services assignment from a licensed appraisal management company, the appraisal management company shall require the appraiser to confirm in writing that the appraiser satisfies all of the following:

1. The appraiser is competent, or will become competent, in the property type of the assignment.