Certified residential appraiser

1. Permit. A certified residential appraiser permit must be issued to an individual who successfully meets all of the requirements set by the appraiser qualifications board of the appraisal foundation for such a permit. Education, experience, and examination requirements for certified residential are all set by the appraiser qualifications board. The board adopts these as its requirements for certified residential. These requirements may be found in the "Real Property Appraiser Qualification Criteria and Interpretation of the Criteria, Effective May 1, 2018", appraiser qualifications board, appraisal foundation. 2. Scope of practice. The certified residential appraiser may appraise one-family to four-family family residential properties without regard to value or complexity. In addition, a certified residential appraiser may appraise noncomplex, nonresidential properties, that have a transaction value of up to two hundred fifty thousand dollars. The certified residential appraiser is bound by the competency provision of the uniform standards of professional appraisal practice. 3. Education. An applicant for a certified residential appraiser permit shall meet all of the education requirements set by the appraiser qualifications board of the appraisal foundation. These requirements may be found in the "Real Property Appraiser Qualification Criteria and Interpretation of the Criteria, Effective May 1, 2018", appraiser qualifications board, appraisal foundation. In addition to the requirements set by the appraiser qualifications board of the appraisal foundation, an applicant for a certified residential appraiser permit must be familiar with North Dakota Century Code chapter 43-23.3 and North Dakota Administrative Code title 101. 4. Experience. The applicant for certified residential appraiser must submit a log from which a selection of reports will be reviewed. Collectively the reports must include and demonstrate competence and a working knowledge of all three approaches to value. The reports submitted must meet the current uniform standards of professional appraisal practice as of the effective date of the appraisal and must reflect that the applicant has an acceptable level of competency and understanding of the principles, practices, and procedures consistent with the body of knowledge for the certified residential level. a. Adequate experience will be determined by the actual hours spent on an assignment, subject to a maximum established by the board. (1) Maximum hours awarded are based on the types of appraisals performed and the types of properties appraised. (2) The number of allowable hours assigned for each appraisal type are assigned by the board and referenced in paragraph 2 of subsection a of subsection 4 of section 101-02-02-05. b. After accumulating a minimum of fifty percent of the required appraisal experience, an applicant for certified residential may voluntarily submit work product to the board to be reviewed by a board reviewer for educational purposes only. One report may be submitted for review. The board will not initiate a complaint for violations identified in this review. If the board determines the reviewed report meets the minimum requirements set forth in the uniform standards of professional appraisal practice and the applicant has an acceptable level of competency and understanding of the principles, practices, and procedures consistent with the body of knowledge for the certified residential level, the board may allow the applicant to use the educational review as part of the application process for certified residential.