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.
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 (202) 347-7722, info@appraisalfoundation.org, or 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.
SPS 85.120(8) (8)“Cosign" means the act of a noncertified or unlicensed appraiser signing a written appraisal in conjunction with a certified or licensed appraiser.
SPS 85.120(9) (9)“Department" means the department of safety and professional services.
SPS 85.120(10) (10)“Distance education" means any education process based on the geographical separation of student and instructor.
SPS 85.120(11) (11)“Dwelling unit" means a structure or that part of a structure that is used or intended to be used as a residence.
SPS 85.120(12) (12)“Federal financial institutions regulatory agencies" means the board of governors of the federal reserve system, the federal deposit insurance corporation, the office of the comptroller of the currency, the office of thrift supervision and the national credit union administration.
SPS 85.120(13) (13)“Federally related transaction" means any real estate related financial transaction which a federal financial institutions regulatory agency engages in, contracts for or regulates and requires the services of an appraiser.
SPS 85.120(14) (14)“Fee and staff appraisal" means a real property appraisal developed and reported in accordance with the Uniform Standards of Professional Appraisal Practice.
SPS 85.120(15) (15) “ FIRREA" means the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
SPS 85.120(16) (16)“Highest and best use" means the reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value.
SPS 85.120(17) (17)“Hour of appraisal experience" means 60 minutes of verifiable appraisal experience.
SPS 85.120(18) (18) “ Mass appraisal" means an appraisal of a universe of properties performed in accordance with the Uniform Standards of Professional Appraisal Practice.
SPS 85.120(19) (19)“Non-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 typical.
SPS 85.120(20) (20)“Non-federally related transaction" means any real estate related transaction other than a federally related transaction.
SPS 85.120(21) (21)“Practice of a temporary nature" means the performance by an appraiser of one or more appraisals conducted for purposes of completing a specific appraiser assignment.
SPS 85.120(24) (24)“Supervision" means direct, personal, and active oversight by a certified or licensed appraiser of employees or associates who assist in the preparation of appraisals.
SPS 85.120(25) (25)“Transaction value" means one of the following:
SPS 85.120(25)(a) (a) For loans or other extensions of credit, the amount of the loan or extension of credit.
SPS 85.120(25)(b) (b) For sales, leases, purchases, and investments in or exchanges of real property, the market value of the real property interest involved.
SPS 85.120(25)(c) (c) For the pooling of loans or interests in real property for resale or purchase, the amount of the loan or market value of the real property calculated with respect to each such loan or interest in real property.
SPS 85.120(26) (26)“Uniform Standards of Professional Appraisal Practice" or “USPAP” means the standards issued by the Appraisal Standards Board of The Appraisal Foundation for the performance of real estate appraisals.
SPS 85.120(27) (27)“Written" means written on paper or administered electronically on a computer workstation or other device.
SPS 85.120 History History: Cr. Register, September, 1991, No. 429, eff. 10-1-91; emerg. am. (4), (7) and (9), renum. (10) and (11) to be (12) and (13), cr. (10) and (11), eff. 10-1-91; am, (4), (7) and (9), renum. (10) and (11) to be (11) and (12), cr. (10), Register, May, 1992, No. 437, eff. 6-1-92; am. (intro.), renum. (2) to (12) to be (3), (4), (6) to (10), (14), (16) to (18) and am. (16), cr. (2), (5), (11) to (13) and (15), Register, April, 1994, No. 460, eff. 5-1-94; renum. (1) to be (1a), cr. (1), (2a), (8a), (8b), (8c), (8d), am. (3), (8), (9), (17), r. (16), Register, June, 1996, No. 486, eff. 7-1-96; am. (3), (13), (15) (intro.), (a), and (b), renum. (1) to (1a) to be (1a) and (1b), cr. (1), (10a), r. (17), Register, January, 1998, No. 505, eff. 2‐1‐98; cr. (8ag), (8ar) and (10r), renum. (10a) to be (10g); Register, January, 1999, No. 517, eff. 2-1-99; CR 01-100: am. (1a), (2), (3), (8a), (8b), (8d), (9), (12), (13) and (14), r. (2a), cr. (7g) and (8bg), r. and recr. (10r), Register February 2002 No. 554, eff. 3-1-02; CR 06-033: r. (1a), (1b), (7g) (a) and (b), am. (3), (9) and (13), r. and recr. (4m) and (10), renum. (7g) (intro.) to (7g) and am. Register November 2006 No. 611, eff. 12-1-06; CR 10-135: am. (10) Register August 2011 No. 668, eff. 9-1-11; correction in (7) under s. 13.92 (4) (b) 6., Stats., Register August 2011 No. 668; correction in (intro.), (9) made under s. 13.92 (4) (b) 7., Stats., Register November 2011 No. 671; CR 14-016: SPS 85.120 renum. from SPS 80.03; as renumbered, am. (intro.), r. (2), renum. (3) to (8) to (2), (4), (5), (7), (8), (9), (10), (11), cr. (3), (6) renum. from SPS 84.001 and am., r. (8), renum. (8ag) to (8c) to (12) to (16), r. (8) (d), renum. (9) to (18) to (17) to (26) and am. (17); cr. (27) Register September 2014 No. 705, eff. 1-1-15; correction in (17) made under s. 13.92 (4) (b) 7., Stats., Register September 2014 No. 705; CR 18-104: am. (1) to (3), (6), (14), (15), (17), (18), r. (22), renum. (23) to (1m) and am., am. (24), (26) Register December 2019 No. 768, eff. 1-1-20.
subch. II of ch. SPS 85 Subchapter II — Application
SPS 85.200 SPS 85.200 Prerequisite to submitting credential application. Prior to submitting an application for a licensed or certified real estate appraiser credential, an individual shall successfully complete the education and experience hours required under ss. SPS 85.310 and 85.320, ss. SPS 85.410 and 85.420, or ss. SPS 85.510 and 85.520, as appropriate.
SPS 85.200 History History: CR 04-007: cr. Register August 2004 No. 584, eff. 9-1-04; CR 06-033: am. Register November 2006 No. 611, eff. 12-1-06; correction made under s. 13.92 (4) (b) 7., Stats., Register November 2011 No. 671; CR 14-016: renum. from SPS 81.01 and am. Register September 2014 No. 705, eff. 1-1-15; CR 18-104: am. Register December 2019 No. 768, eff. 1-1-20; correction made under s. 35.17, Stats., Register December 2019 No. 768.
SPS 85.210 SPS 85.210 Applications for certified and licensed appraisers.
SPS 85.210(1) (1)An applicant for certification or licensure shall apply on a form provided by the department. The application shall include all of the following:
SPS 85.210(1)(a) (a) The application fee established by the department and the annual registry fees required under s. 458.21, Stats.
SPS 85.210(1)(b) (b) Subject to ss. 111.321, 111.322, and 111.335, Stats., a statement relating to any pending criminal charge or conviction record. An applicant who has a pending criminal charge or a conviction record shall provide the department with all related information necessary for the department to determine whether the circumstances of the pending charge or conviction substantially relate to the practice of appraisal.
SPS 85.210(1)(c) (c) Evidence of successful completion of the educational course work required under s. SPS 85.320, 85.420, or 85.520 for licensure or certification.
SPS 85.210(1)(d) (d) Evidence of successful completion of the national and state examinations under s. SPS 85.600.
SPS 85.210(1)(e) (e) The roster of appraisal experience required under s. SPS 85.700 (3).
SPS 85.210 Note Note: Applications are available from the department's website at http://dsps.wi.gov.
SPS 85.210(2m) (2m)The department may request additional information to determine if an applicant is qualified for certification or licensure. Failure by an applicant to comply with a request for additional information within 120 days from the date of the request shall void the application and require the applicant to reapply for certification or licensure.
SPS 85.210(3m) (3m)The department shall provide an applicant with a disability reasonable accommodations for completing an application.
SPS 85.210 History History: Cr. Register, September, 1991, No. 429, eff. 10-1-91; emerg. am. intro., (3), (6) and (7), eff. 10-1-91; am. (intro.), (3), (6), (7), Register, May, 1992, No. 437, eff. 6-1-92; am. (intro.), (2) to (4), (6) and (7), cr. (8), Register, April, 1994, No. 460, eff. 5-1-94; am. (intro.) and (1) to (7), Register, June, 1996, No. 486, eff. 7-1-96; am. (3), Register, January, 1998, No. 505, eff. 2-1-98; CR 02-067: am. (3), r. (4) Register November 2002 No. 563, eff. 12-1-02; CR 04-007: renum. from RL 81.01 Register August 2004 No. 584, eff. 9-1-04; CR 06-033: am. (intro.), (3) and (7), r. (6) Register November 2006 No. 611, eff. 12-1-06; correction in (3), (5), (7), (8) made under s. 13.92 (4) (b) 7., Stats., Register November 2011 No. 671; CR 14-016: SPS 85.210 renum. from SPS 81.02, am. (3), (5), (7), r. (8) Register September 2014 No. 705, eff. 1-1-15; correction in (7) made under s. 13.92 (4) (b) 7., Stats., Register September 2014 No. 705; CR 18-104: renum. (intro.) to (1) (intro.) and am., cr. (2m), (3m) Register December 2019 No. 768, eff. 1-1-20.
SPS 85.220 SPS 85.220 Temporary registration.
SPS 85.220(1)(1)Requirements. An appraiser who holds a current appraiser certificate in another state, which is not currently limited, suspended, or revoked, may use the titles described under s. 458.055, Stats., when performing an appraisal in this state, if all of the following apply:
SPS 85.220(1)(a) (a) The appraisal is performed in a federally related transaction.
SPS 85.220(1)(b) (b) The appraiser's practice in this state is practice of a temporary nature.
SPS 85.220(1)(c) (c) The appraiser completes an application and pays the fee specified in s. 440.05 (1) and (6), Stats.
SPS 85.220(2) (2)Application. An appraiser seeking a temporary registration shall apply on a form provided by the department. The application shall include all of the following:
SPS 85.220(2)(a) (a) The fee specified in s. 440.05 (1) and (6), Stats.
SPS 85.220(2)(b) (b) A description of the appraisal assignment in this state, including information pertaining to the type of property being appraised, the location and approximate size of the property, the anticipated completion date, and the name and address of the lender requesting the appraisal.
SPS 85.220(2)(c) (c) Subject to ss. 111.321, 111.322, and 111.335, Stats., a statement relating to any pending criminal charge or conviction record. An applicant who has a pending criminal charge or a conviction record shall provide the department with all related information necessary for the department to determine whether the circumstances of the pending charge or conviction substantially relate to the practice of appraisal.
SPS 85.220(2)(d) (d) A written statement identifying each state in which the applicant practices as an appraiser.
SPS 85.220 Note Note: Applications are available from the department's website at http://dsps.wi.gov.
SPS 85.220(3) (3)Request for additional information. The department may request additional information to determine if an applicant is qualified for a temporary registration. Failure by an applicant to comply with a request for additional information within 120 days from the date of the request shall void the application and require the applicant to reapply for temporary registration.
SPS 85.220(4) (4)Accommodations. The department shall provide an applicant with a disability reasonable accommodations for completing an application.
SPS 85.220 History History: Cr. Register, April, 1994, No. 460, eff. 5-1-94; am. Register, June, 1996, No. 486, eff. 7-1-96; am. (2) (intro.), (d), Register, June, 1996, No. 486, eff. 7-1-96; am. (1) (c), (2), (a), (b) and (c), Register, January, 1998, No. 505, eff. 2-1-98.; am. (2) (b), cr. (2) (e), Register, January, 1999, No. 517, eff. 2-1-99; CR 01-100: am. (1) (c), r. (2) (b), renum. (2) (c) to (e) to be (2) (b) to (d) and am. (2) (d), Register February 2002 No. 554, eff. 3-1-02; CR 06-033: am. (1) (intro.), (c), (2) (intro.) and (a) Register November 2006 No. 611, eff. 12-1-06; CR 14-016: SPS 85.220 (1), (2) renum. from SPS 81.03 (1), (2) Register September 2014 No. 705, eff. 1-1-15; SPS 85.220 (title) renum. from 81.03 (title) under s. 13.92 (4) (b) 1. Register September 2014 No. 705; CR 18-104: am. (1) (intro.), (2) (intro.), (b), (c), cr. (3), (4) Register December 2019 No. 768, eff. 1-1-20.
SPS 85.230 SPS 85.230 Reciprocal licensure and certification.
Loading...
Loading...
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.