Indiana Law Allows Appraisers To Perform Evaluations W/o USPAP Compliance

[Mike Kennedy]

Indiana Law Allows Appraisers to Perform Evaluations

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Indiana became the third state to allow state-licensed and state-certified appraisers to perform evaluations without having to comply with the Uniform Standards of Professional Appraisal Practice when Gov. Mike Pence signed SB 300 into law March 21. > FULL STORY

 

[Sid Holderly]

The Indiana Association of REALTORS wanted this because the past few years brokers were required to follow USPAP when they did BPO's by most appraisers interpretation of the IN code.. I do not know a single one (broker) that followed the law as it was perceived by appraisers.

I do not think the local appraisers wanted this change. Indiana real estate and appraisal law is a combined mish mash and this new law appeased the brokers. The IAR has a substantial lobby and is now located across the street from the State House.

I had not heard this was in the works.

Will appraisers get any more in-house or non-lending work ? At a reasonable fee?