New York State Licensed Appraisal Question

[Shawangunk RE]

Then it is regulated by the IAG and yes, I believe that a CR could sign off and whether on the left or right, contact the client and see what they want and tell that SL to get their ****ed CR and don't waste time about it. There is no excuse for even going for the SL license in the first place.

In NY, you have to have a college degree to be certified. Bachelor or higher.

 

[Terrel L. Shields]

In NY, you have to have a college degree to be certified. Bachelor or higher.

That sucks. Gee. What do you need to be a CG? Master's degree or Phd? Engineering? Design? Architect? And I bet the degree does not matter does it? Real Estate & Insurance degree or Underwater Basketweaving - all the same.

 

[Shawangunk RE]

That sucks. Gee. What do you need to be a CG? Master's degree or Phd? Engineering? Design? Architect? And I bet the degree does not matter does it? Real Estate & Insurance degree or Underwater Basketweaving - all the same.

Yeah, typical NYS bull****. the degree could be in basketweaving for all they care, just has to be a bachelor or higher lol.

 

[Carnivore]

I have a Masters degree in UnderWater Basket weaving.

 

[James Micozzi]

https://dos.ny.gov/system/files/documents/2021/09/real-estate-appraiser-law-booklet-march-2021.pdf

See section 1101.0. Licensed residential appraiser can only appraiser 1-4 family with a transaction amount UNDER $1,000,000.

So that answers your question. the licensed residential can sign on the left and the CR or CG will sign on the right as supervisory appraiser. Pretty simple. Took me two minutes in a google search to fine the NYS real appraiser law booklet.

 

[sputnam]

I believe it's the loan amount not the appraised value....

It's the transaction amount... but that usually means the sales price or loan amount... whichever is higher. If it's an already completed assignment, it's not your problem (unless you are the licensed appraiser.. then it might be). The Lender or AMC will have to deal with it if a reviewer catches it. If you are the licensed appraiser or the certified appraiser being asked to sign off on it then, I wouldn't sign as the supervisory appraiser unless you actually supervised the appraisal. You can include a separate certification page and sign as the co-appraiser. Just be sure to disclose whether you did or did not inspect the subject property (and the date and extent of that inspection) and don't forget the prior services certification.

 

[Tom D]

the purpose of a cr signing is that they take the total responsibility of the appraisal. the question becomes, is the lr allowed to do the inspection alone. i would think that's a lender decision once you sign as the supervisor.

 

[sputnam]

the purpose of a cr signing is that they take the total responsibility of the appraisal. the question becomes, is the lr allowed to do the inspection alone. i would think that's a lender decision once you sign as the supervisor.

Unless the certification specifies which work was done by each appraiser, every appraiser signing takes full responsibility for the entire appraisal.

 

[jay trotta]

Yeah, typical NYS bull****. the degree could be in basketweaving for all they care, just has to be a bachelor or higher lol.

Then the question would be if they have a degree requirement for a Dart Board Goalie

 

[sputnam]

I have a Masters degree in UnderWater Basket weaving.

The college degree requirement is mostly an attempt to make sure appraisers can actually write reports that are clear. If you don't do review work, you might be surprised by how many otherwise competent appraisers can't write. There are often rambling paragraphs that no one can really make sense of, misspelled words, including the same comment in the report multiple times. Of course, requiring a college degree isn't a guarantee that an appraiser will write well. Some degreed appraisers are terrible writers.