Register January 2020 No. 769
Chapter SPS 85
REAL ESTATE APPRAISERS
Subchapter I — Authority, Intent, Adoption of Standards, and Definitions
SPS 85.100   Authority.
SPS 85.110   Intent.
SPS 85.115   Adoption of standards.
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 Appraiser
SPS 85.300   Certified general appraiser.
SPS 85.310   Proof of experience.
SPS 85.320   Core curriculum and educational requirements.
SPS 85.330   Prerequisite for examination.
Subchapter IV — Certified Residential Appraiser
SPS 85.400   Certified residential appraiser.
SPS 85.410   Proof of experience.
SPS 85.420   Core curriculum and educational requirements.
SPS 85.425   Qualifying college-level education.
SPS 85.430   Prerequisite for examination.
Subchapter V — Licensed Appraiser
SPS 85.500   Licensed appraiser.
SPS 85.510   Proof of experience.
SPS 85.520   Core curriculum 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, Adoption of Standards, and Definitions
SPS 85.100 SPS 85.100 Authority. 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 85.110 Intent. 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 that are consistent with the Uniform Standards of Professional Appraisal Practice issued 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; CR 18-104: am. Register December 2019 No. 768, eff. 1-1-20.
SPS 85.115 SPS 85.115 Adoption of standards. The Uniform Standards of Professional Appraisal Practice, 2020-2021, issued by the Appraisal Standards Board of The Appraisal Foundation, are incorporated by reference into chs. SPS 85 to 87.
SPS 85.115 Note Note: Copies of the standards are on file in the offices of the department and the legislative reference bureau. A copy of the standards may be purchased from the organization listed or may be reviewed on the organization's website, www.appraisalfoundation.org, at no cost.
SPS 85.115 History History: CR 18-104: cr. Register December 2019 No. 768, eff. 1-1-20.
SPS 85.120 SPS 85.120 Definitions. As used in chs. SPS 85 to 87 and in ch. 458, Stats.:
SPS 85.120(1) (1)“Accredited" means accredited by the Commission on Colleges, a national or regional accreditation association, or an accrediting agency recognized by the U.S. department of education.
SPS 85.120(1m) (1m)“Appraisal consulting" means the performance of consulting services in accordance with the Uniform Standards of Professional Appraisal Practice.
SPS 85.120(2) (2)“Appraisal 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 in effect at the time the experience is obtained.
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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.