Register December 2014 No. 708
Chapter SPS 85
REAL ESTATE APPRAISERS
Subchapter I — Authority, Intent, Definitions
SPS 85.100   Authority.
SPS 85.110   Intent.
SPS 85.120   Definitions.
Subchapter II — Application
SPS 85.200   Prerequisite to submitting credential application.
SPS 85.210   Applications for certified and licensed appraisers.
SPS 85.220   Temporary registration.
SPS 85.230   Reciprocal licensure and certification.
SPS 85.240   Background checks.
Subchapter III — Certified General Real Estate Appraiser
SPS 85.300   Certified general appraiser.
SPS 85.310   Proof of experience for certified general appraisers.
SPS 85.320   Certified general appraiser course requirements.
SPS 85.330   Prerequisite for examination.
Subchapter IV — Certified Residential Real Estate Appraiser
SPS 85.400   Certified residential appraiser.
SPS 85.410   Proof of experience for certified residential appraisers.
SPS 85.420   Certified residential appraiser course requirements.
SPS 85.430   Prerequisite for examination.
Subchapter V — Licensed Real Estate Appraiser
SPS 85.500   Licensed appraiser.
SPS 85.510   Proof of experience for licensed appraisers.
SPS 85.520   Licensed appraiser course requirements.
SPS 85.530   Prerequisite for examination.
Subchapter VI — Examination
SPS 85.600   Examination.
SPS 85.610   Examination procedures.
SPS 85.620   Reexamination.
SPS 85.630   Claim of examination error.
Subchapter VII — Experience
SPS 85.700   Proof of Experience.
SPS 85.710   Verification of appraisal experience.
Subchapter VIII — Education
SPS 85.800   Course approval.
SPS 85.820   Distance Education.
SPS 85.830   Approved providers.
SPS 85.840   College degree acceptance.
Subchapter IX — Continuing Education
SPS 85.900   Continuing education.
SPS 85.910   Approval of continuing education courses.
subch. I of ch. SPS 85 Subchapter I — Authority, Intent, Definitions
SPS 85.100 SPS 85.100Authority. The rules in chs. SPS 85 to 87 are adopted under the authority of ss. 227.11 and 440.03 (1), Stats., and ch. 458, Stats.
SPS 85.100 History History: Cr. Register, September, 1991, No. 429, eff. 10-1-91; am. Register, April, 1994, No. 460, eff. 5-1-94; correction made under s. 13.92 (4) (b) 7., Stats., Register November 2011 No. 671; CR. 14-016: renum. from SPS 80.01 and am. Register September 2014 No. 705, eff. 1-1-15.
SPS 85.110 SPS 85.110Intent. The intent of the department in adopting chs. SPS 85 to 87 is to establish minimum standards for professional appraisal practice for certified and licensed appraisers which are consistent with the uniform standards of professional appraisal practice promulgated by the Appraisal Standards Board of the Appraisal Foundation. It is further intended that these rules shall establish standards of competency such that persons certified or licensed as appraisers are qualified to perform appraisals for federally related transaction under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, 12 USC 3331 et seq.
SPS 85.110 History History: Cr. Register, September, 1991, No. 429, eff. 10-1-91; emerg. am. eff. 10-1-91; am, Register, May, 1992, No. 437, eff. 6-1-92; am. Register, April, 1994, No. 460, eff. 5-1-94; am. Register, June, 1996, No. 486, eff. 7-1-96; am. Register, January, 1998, No. 505, eff. 2-1-98; correction made under s. 13.92 (4) (b) 7., Stats., Register November 2011 No. 671; CR 14-016: renum. from SPS 80.02 and am. Register September 2014 No. 705.
SPS 85.120 SPS 85.120Definitions. As used in chs. SPS 85 to 87 and in ch. 458, Stats.:
SPS 85.120(1) (1) “Accredited college or university" means an institution which is accredited by a regional or national accrediting agency recognized by the U.S. department of education.
SPS 85.120(2) (2) “Appraiser experience" means experience obtained by the performance of appraisals, appraisal reviews, appraisal consulting assignments or mass appraisals in accordance with the uniform standards of professional appraisal practice.
SPS 85.120(3) (3) “AQB" means the appraiser qualifications board of the appraisal foundation.
SPS 85.120 Note Note: The Appraiser Qualifications Board of the Appraisal Foundation may be contacted at 1155 15th Street, NW, Suite 1111, Washington, DC 20005, (202) 347-7722, www.appraisalfoundation.org.
SPS 85.120(4) (4) “Board" means the real estate appraisers board.
SPS 85.120(5) (5) “Class hour" means 60 minutes, of which at least 50 minutes are instruction attended by the student.
SPS 85.120(6) (6) “CLEP" means college level examination program.
SPS 85.120(7) (7) “Complex 1-to-4 family residential property appraisal" means an appraisal of 1-to-4 family residential property in which the property to be appraised, the form of ownership, or market conditions are atypical.
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Published under s. 35.93, Stats. Updated on the first day of each month. Entire code is always current. The Register date on each page is the date the chapter was last published.