Appraisals

Consumers, lenders, and builders have the right to demand an appraiser be qualified to do conduct any real estate appraisals, including green buildings. They can reject those who are not until one is found. 

The Interagency Appraisal and Evaluation Guidelines state: "An institution’s selection process should ensure that a qualified, competent and independent person is selected to perform a valuation assignment. An institution should maintain documentation to demonstrate that the appraiser or person performing an evaluation, and has the relevant experience and knowledge for the market, location, and type of real property being valued.” See page 10, section VI at: http://www.occ.gov/news-issuances/federal-register/75fr77450.pdf.

Nat'l Assoc. of Realtors - resource to help green the MLS - click here

NAHB - Builder's Guide to Appraisals (PowerPoint slides) (8-4-10).

Testimony on RB 13, requiring the registration and regulation of appraisal management companies (2-16-10) ; HBRACT supported the bill with amendments; HBRACT worked with other organizations to negotiate language on the bill, including CT Bankers Assoc., CT Assoc. of Realtors, CT Chapter of the Appraisal Institute, and appraisal management companies; The bill was passed and adopted into law - See General Assembly page for RB 13.

Fannie Mae's new guidance on appraisals (June 30, 2010) - which actually encourages appraisers to talk with builders

Check with your attorney for any updates to laws and regulations.


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