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Appraisal Review In Florida

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Vernon Martin

Senior Member
Joined
Jun 8, 2005
Professional Status
Certified General Appraiser
State
California
I had a client ask me to review an appraisal in Florida and I did a Standard 3 review and concluded that the value was not supported. Now he wants my review report to include what the property is really worth and calculate the value difference. Do I need to be certified in Florida to do that?

Thanks, everyone.
 

Tom Woolford

Elite Member
Joined
Nov 20, 2005
Professional Status
Certified Residential Appraiser
State
Florida
If you give an opinion of value, you have made an appraisal, and subject to all applicable standards and State Laws. Short answer: Yes.
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
California Appraiser Doing Reviews in Florida with no license in that State ? This is a gray area and much depends on what the Florida State License Board requires. According to Richard Hagar, it’s not just state law, but there are also clauses in Dodd-Frank, FIRREA, and the Inter-Agency Guidelines that reinforce state laws and what they say about who can pass judgment on an appraisal. He also cites language from the Truth in Lending Act (TILA) in the webinar, which mandates appraisal reviews be completed by appraisers certified and licensed in the state in which the subject property is located.
 

bnmappraisal

Elite Member
Gold Supporting Member
Joined
Nov 9, 2011
Professional Status
Certified Residential Appraiser
State
Florida
Now he wants my review report to include what the property is really worth and calculate the value difference.
Not really sure how you would do that being in CA?! :shrug: Just like I would have no idea to value a property in CA (I'm in FL)

I have no problem with you, being in CA, reviewing a FL report for a client. No issues there. But when that client then asks you, again in CA, to include a value for the property, etc, for the property in FL? That's an issue; unless you're licensed in FL and competent to appraise said property in FL.
 

Vernon Martin

Senior Member
Joined
Jun 8, 2005
Professional Status
Certified General Appraiser
State
California
Are there any solar farm appraisers in Florida?
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Tack on the fee for a temporary practice license in Florida.

Are you reviewing/appraising the business value of a solar farm in Florida, or, the value of the Real Estate? All these laws are about splitting hairs. If you are the employee of a lender, you don't need an out of state license.

.
 

Vernon Martin

Senior Member
Joined
Jun 8, 2005
Professional Status
Certified General Appraiser
State
California
Temporary practice permits in Florida seem unfortunately limited to Federally related transactions. My work is usually for private lenders.
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
You know what?

Pm Howard Klahr. He's in Florida and could probably best advise you.

.
 
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