21 N.C. Admin. Code 57A.0605

Current through Register Vol. 39, No. 11, December 2, 2024

Section 57A .0605 - REPORTING APPRAISAL EXPERIENCE

(a) Applicants shall use the Appraisal Board's Appraisal Experience Log to report appraisal experience. The log is available on the Board's website at www.ncappraisalboard.org.

(b) The Log shall contain the following:

(1) the applicant's name and signature;

(2) the supervisor's name and signature;

(3) the supervisor's certificate number;

(4) the date the supervisor signed the log;

(5) the subject property address;

(6) the date the appraisal report was signed;

(7) the report type such as an appraisal report, a restricted appraisal report, or the type of reporting form used;

(8) the client's name;

(9) the applicant's file number for the appraisal assignment, if any;

(10) the number of hours requested for appraisal experience;

(11) whether the supervisory appraiser accompanied the applicant on the inspection of the subject property; and

(12) a description of the work performed by the applicant and his or her supervisor on each assignment.

(c) Applicants shall retain copies of all appraisals and their associated work files in accordance with the Record Keeping Rule of USPAP to support all appraisal experience reported on the log.

21 N.C. Admin. Code 57A .0605

Authority G.S. 93E-1-6.1; 93E-1-10;
Eff. July 1, 2016;
Amended Eff. September 1, 2019.

Authority G.S. 93E-1-6.1; 93E-1-10;
Eff. 7/1/2016;
Amended Eff. 9/1/2019.

Amended by North Carolina Register Volume 37, Issue 03, August 1, 2022 Eff. Pending legislative review pursuant to G.S. 150B-21.3.