AQB Proposes Replace to Appraiser Standards

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AQB Proposes Update to Appraiser Criteria

On January 6, 2020, the Appraiser Qualifications Board (AQB) published proposed amendments to the Appraiser Qualification Criteria that are in line with recent changes by the Bundesbank agencies and allow the use of ratings for residential properties under USD 400,000 instead of a federal transaction. The proposed changes to the criteria would allow approved residential real estate appraisers to value complex properties of one to four units up to $ 400,000. Currently the limit is $ 250,000, which reflects the previous value of the Bundesbanks.

Comments are due on February 6, 2020.

Changes proposed by AQB

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