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August 22, 2018

AI Among Organizations Opposing North Dakota Appraisal Waiver Request

The Appraisal Institute on Aug. 13 joined nearly 30 valuation organizations opposing North Dakota’s appraisal waiver request to bypass appraisal requirements for business/farm transactions below $1 million and residential transactions below $500,000. The state cited unreasonable appraisal delays and excessive costs and a scarcity of appraisers in rural areas when submitting its request.
 
The organizations voiced their opposition in a letter to the Appraisal Subcommittee, urging it to reject the request for failing to fully and accurately adhere to the ASC requirement for temporary waiver requests. The letter further noted that the relief sought by the petitioners appears to be a waiver of appraisal requirements, which is not relief that can be granted by the ASC. While the ASC does have the authority to grant temporary waivers of appraiser licensing and certification requirements, that does not appear to be the relief sought by petitioners. 
 
Read the letter the organizations submitted to the ASC.
 

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