La. Admin. Code tit. 46 § LXVII-10315

Current through Register Vol. 50, No. 12, December 20, 2024

Section LXVII-10315 - Appraisal Review Requirements

A. In reviewing an appraisal, the appraiser must observe the following guidelines:

1. identify the report being reviewed, the real estate and real property interest being appraised, the effective date of the opinion in the report being reviewed, and the date of the review;

2. identify the scope of the review process to be conducted;

3. form an opinion as to the adequacy and relevance of the data and the propriety of any adjustments to the data;

4. form an opinion as to the appropriateness of the appraisal methods and techniques used to develop the reasons for any disagreements;

5. form an opinion as to the correctness and appropriateness of the analyses, opinions, and/or conclusions in the report being reviewed, and develop the reasons for any disagreements;

6. state in the letter of transmittal whether or not exterior or interior building inspections were made and, if so, when and by whom;

7. the review must be in writing.

B. In reporting the results of an appraisal review, the appraiser must:

1. disclose the nature, extent, and detail of the review process undertaken;

2. disclose the information that must be considered in §10315. A.1 and 2;

3. set forth the opinions, reasons, and conclusions required in §10315 3, 4, and 5;

4. include a signed certification.

C. No more than 50 percent of experience credit hours shall be awarded for review of appraisals.

La. Admin. Code tit. 46, § LXVII-10315

Promulgated by the Department of Economic Development, Real Estate Appraisers Board of Certification, LR 25:1428 (August 1999), amended by the Office of the Governor, Real Estate Appraisers Board, LR 31:1335 (June 2005), LR 37:334 (January 2011).

AUTHORITY NOTE: Promulgated in accordance with R.S. 37:3395.