SPS 85.220(2)(b) (b) A description of the appraisal assignment in this state including, but not limited to, 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) A statement relating to any pending criminal charge or conviction record, subject to ss. 111.321, 111.322 and 111.335, Stats. An applicant who has a pending criminal charge or has 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 of Safety and Professional Services, Division of Professional Credential Processing, 1400 East Washington Avenue, P.O. Box 8935, Madison, WI 53708-8935 or from the department's website at: http://dsps.wi.gov.
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.
SPS 85.230 SPS 85.230Reciprocal licensure and certification.
SPS 85.230(1)(1) An individual applying for licensure or certification as an appraiser on the basis of a license or certification in another state or territory of the United States shall do all of the following:
SPS 85.230(1)(a) (a) Submit an application on a form provided by the department.
SPS 85.230 Note Note: Application forms are available on request to the Department of Safety and Professional Services, Division of Professional Credentialing, 1400 East Washington Avenue, P.O. Box 8935, Madison, Wisconsin 53708-8935 or from the department's website at: http://dsps.wi.gov.
SPS 85.230(1)(b) (b) Pay the fee specified in s. 440.05 (2), Stats.
SPS 85.230(1)(c) (c) Submit evidence satisfactory to the department that he or she has satisfied all of the following:
SPS 85.230(1)(c)1. 1. Holds a current appraiser license or certification in another state or territory of the United States, which is not currently limited, suspended or revoked and which was granted in accordance with the requirements set forth under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, 12 USC 3331 et seq.
SPS 85.230(1)(c)2. 2. Has passed the examination on Wisconsin statutes and rules governing appraisers, as provided under s. SPS 85.600.
SPS 85.230(1)(c)3. 3. Subject to ss. 111.321. 111.322, and 111.335, Stats., does not have an arrest or conviction record.
SPS 85.230 Note Note: The Department will review any arrest or conviction in order to determine whether the circumstances of the arrest or conviction substantially relate to the practice of real estate appraisal.
SPS 85.230(2) (2) In determining whether to grant a reciprocal license or certification, the department shall consider whether the current requirements for a license or certification in the other state or territory meet or exceed the requirements for licensure or certification as an appraiser in this state.
SPS 85.230 History History: Cr. Register, January, 1999, No. 517, eff. 2-1-99; CR 06-033: am. (1) (c) (intro.) and 1. Register November 2006 No. 611, eff. 12-1-06; CR 10-135: cr. (1) (c) 4. Register August 2011 No. 668, eff. 9-1-11; correction in (1) (c) 2., 4. made under s. 13.92 (4) (b) 7., Stats., Register November 2011 No. 671; EmR1307: emerg. r. (1) (c) 3., 4., am. (2), eff. 6-18-13; CR 13-053: r. (1) (c) 3., 4., am. (2) Register February 2014 No. 698, eff. 3-1-14; CR 14-016: SPS 85.230 renum. from SPS 81.04, am. (1) (c) 2., cr. (1) (c) 3. Register September 2014 No. 705, eff. 1-1-15.
SPS 85.240 SPS 85.240Background checks.
SPS 85.240(1) (1) All candidates for licensed or certified appraiser credentials shall undergo background screening in accordance with s. 440.03 (13) (c), Stats. The board may not issue a licensed or certified appraiser credential if any of the following applies:
SPS 85.240(1)(a) (a) The applicant has had an appraiser license or certification revoked, or surrendered for cause, in any governmental jurisdiction within the 5 year period immediately preceding the date of application.
SPS 85.240(1)(b) (b) The applicant has been convicted of, or plead guilty or nolo contendere to a felony in a domestic or foreign court, during the 5 year period immediately preceding the application for licensure or certification or at any time preceding the date of application, if such felony involved an act of fraud, dishonesty, or a breach of trust, or money laundering. The felony must be substantially related to the practice of certified or licensed real estate appraiser.
SPS 85.240(1)(c) (c) The applicant has failed to demonstrate character and general fitness such as to command the confidence of the community and to warrant a determination that the appraiser will operate honestly and fairly.
SPS 85.240(2) (2) Subject to ss. 111.321, 111.322, and 111.335, Stats., an applicant who has a pending criminal charge or has 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 real estate appraisal.
SPS 85.240 History History: CR 14-016: cr. Register September 2014 No. 705, eff. 1-1-5.
subch. III of ch. SPS 85 Subchapter III — Certified General Real Estate Appraiser
SPS 85.300 SPS 85.300Certified general appraiser. A certified general appraiser may conduct appraisals of 1-to-4 family residential real estate and commercial real estate without regard to transaction value.
SPS 85.300 History History: CR 14-016: renum. from SPS 81.05 (1) Register September 2014 No. 705, eff. 1-1-15.
SPS 85.310 SPS 85.310Proof of experience for certified general appraisers. An applicant seeking certification as a general appraiser shall submit evidence satisfactory to the department that the applicant has at least 3,000 hours of appraisal experience obtained over a period of not less than 30 months.
SPS 85.310 History History: CR 14-016: renum. from SPS 83.01 (title), (1), am. (title) Register September 2014 No. 705, eff. 1-1-15.
SPS 85.320 SPS 85.320Certified general appraiser course requirements.
SPS 85.320(1)(1) An individual who applies for certification as a certified general appraiser shall submit evidence satisfactory to the department that he or she has successfully completed all of the following:
SPS 85.320(1)(a) (a) The required 300 class hour core curriculum established by the appraiser qualifications board of the appraisal foundation that consists of all of the following subject areas and corresponding class hours:
SPS 85.320(1)(a)1. 1. Basic appraisal principles — 30 hours.
SPS 85.320(1)(a)2. 2. Basic appraisal procedures — 30 hours.
SPS 85.320(1)(a)3. 3. The 15-hour national USPAP course or its equivalent — 15 hours.
SPS 85.320(1)(a)4. 4. General appraisal market analysis and highest and best use — 30 hours.
SPS 85.320(1)(a)5. 5. Statistics, modeling and finance — 15 hours.
SPS 85.320(1)(a)6. 6. General appraiser sales comparison approach — 30 hours.
SPS 85.320(1)(a)7. 7. General appraisal site valuation and cost approach — 30 hours.
SPS 85.320(1)(a)8. 8. General appraiser income approach — 60 hours.
SPS 85.320(1)(a)9. 9. General appraiser report writing and case studies — 30 hours.
SPS 85.320(1)(a)10. 10. Appraisal subject matter electives that may include the minimum required in the subject areas described in subds. 1. to 9. — 30 hours.
SPS 85.320(1)(b) (b) A bachelor's degree, or higher, in any field of study, from an accredited college or university. The college or university must be a degree-granting institution accredited by the commission on colleges, a national or regional accreditation association, or by an accrediting agency that is recognized by the U.S. secretary of education.
SPS 85.320(2) (2) A licensed appraiser who applies for a certified general appraiser credential shall complete all of the following 150 hour course work, which is identified in the core curriculum under sub. (1) (a), and the college-level educational requirements under sub. (1) (b):
SPS 85.320(2)(a) (a) General appraiser market analysis and highest and best use — 15 hours.
SPS 85.320(2)(b) (b) Statistics, modeling and finance — 15 hours.
SPS 85.320(2)(c) (c) General appraiser sales comparison approach — 15 hours.
SPS 85.320(2)(d) (d) General appraiser site valuation and cost approach — 15 hours.
SPS 85.320(2)(e) (e) General appraiser income approach — 45 hours.
SPS 85.320(2)(f) (f) General appraiser report writing and case studies — 15 hours.
SPS 85.320(2)(g) (g) Appraisal subject matter electives as provided in par. (a) — 30 hours.
SPS 85.320(3) (3) A certified residential appraiser who applies for a certified general appraiser credential shall complete all of the following 100 hour course work, which is identified in the core curriculum under sub. (1) (a), and the college-level educational requirements under sub. (1) (b):
SPS 85.320(3)(a) (a) General appraiser market analysis and highest and best use — 15 hours.
SPS 85.320(3)(b) (b) General appraiser sales comparison approach — 15 hours.
SPS 85.320(3)(c) (c) General appraiser site valuation and cost approach — 15 hours.
SPS 85.320(3)(d) (d) General appraiser income approach — 45 hours.
SPS 85.320(3)(e) (e) General appraiser report writing and case studies — 10 hours.
SPS 85.320 History History: Cr. Register, September, 1991, No. 429, eff. 10-1-91; emerg. am. (1), (2) and (3) (intro.), eff. 10-1-91; am. (1), (2) (intro.) and (3) (intro.), Register, May, 1992, No. 437, eff. 6-1-92; am. (2) (a), (3) (intro.), Register, June, 1996, No. 486, eff. 7-1-96; am. (1), (2) (intro.), (3) (a), (b), (c) 1., to 4. c., and (d) to (q), Register, January, 1998, No. 505, eff. 2-1-98; CR 01-100: am. (2) (a), Register February 2002 No. 554, eff. 3-1-02; CR 02-067: am. (1), (2) (intro.) and (a) Register November 2002 No. 563, eff. 12-1-02; CR 06-033: renum. from s. RL 84.03 and am. Register November 2006 No. 611, eff. 12-1-06; CR 10-135: r. and recr. Register August 2011 No. 668, eff. 9-1-11; CR 14-016: SPS 85.320 renum. from SPS 84.04; as renumbered, renum. (1) (b) (intro.) to (b) and am., r. (1) (b) 1. to 9. Register September 2014 No. 705, eff. 1-1-15.
SPS 85.330 SPS 85.330Prerequisite for examination. In order to obtain a certified general appraiser credential an applicant must complete the AQB-approved certified general real property appraiser examination. The prerequisite for taking the AQB-approved examination is the completion of all of the following:
SPS 85.330(1) (1) Three hundred creditable class hours as specified in the course requirements found in s. SPS 85.320 (1) (a). As part of the 300 required hours, the applicant shall complete the 15-hour national USPAP course or its AQB equivalent, and the corresponding examination.
SPS 85.330(2) (2) Completion of a bachelor's degree or higher from an accredited college or university.
SPS 85.330(3) (3) Three thousand hours of qualifying experience obtained in no fewer than 30 months, where a minimum of 1,500 hours must be obtained in non-residential appraisal work. While the hours may be cumulative, the required number of months must accrue before an individual can be certified.
SPS 85.330 History History: CR 14-016: cr. Register September 2014 No. 705, eff. 1-1-15.
subch. IV of ch. SPS 85 Subchapter IV — Certified Residential Real Estate Appraiser
SPS 85.400 SPS 85.400Certified residential appraiser. A certified residential appraiser may conduct appraisals of 1-to-4 family residential real estate without regard to transaction value and of commercial real estate having a transaction value of not more than $250,000.
SPS 85.400 History History: CR 14-016: renum. from SPS 81.05 (2) Register September 2014 No. 705, eff. 1-1-15.
SPS 85.410 SPS 85.410Proof of experience for certified residential appraisers. An applicant seeking certification as a residential appraiser shall submit evidence satisfactory to the department that the applicant has at least 2,500 hours of appraisal experience obtained over a period of not less than 24 months.
SPS 85.410 History History: CR 14-016: renum. from SPS 83.01 (1a), cr. (title) Register September 2014 No. 705, eff. 1-1-15.
SPS 85.420 SPS 85.420Certified residential appraiser course requirements.
SPS 85.420(1)(1) An individual who applies for certification as a certified residential appraiser shall submit evidence satisfactory to the department that he or she has successfully completed all of the following:
SPS 85.420(1)(a) (a) The required 200 class hour core curriculum established by the appraiser qualifications board of the appraisal foundation that consists of the following subject areas and corresponding class hours:
SPS 85.420(1)(a)1. 1. Basic appraisal principles — 30 hours.
SPS 85.420(1)(a)2. 2. Basic appraisal procedures — 30 hours.
SPS 85.420(1)(a)3. 3. The 15-hour national USPAP course or its equivalent — 15 hours.
SPS 85.420(1)(a)4. 4. Residential market analysis and highest and best use — 15 hours.
SPS 85.420(1)(a)5. 5. Residential appraiser site valuation and cost approach — 15 hours.
SPS 85.420(1)(a)6. 6. Residential sales comparison and income approaches — 30 hours.
SPS 85.420(1)(a)7. 7. Residential report writing and case studies — 15 hours.
SPS 85.420(1)(a)8. 8. Statistics, modeling and finance — 15 hours.
SPS 85.420(1)(a)9. 9. Advanced residential applications and case studies — 15 hours.
SPS 85.420(1)(a)10. 10. Appraisal subject matter electives that may include hours over the minimum required in the subject areas described in subds. 1. to 9. — 20 hours.
SPS 85.420(1)(b) (b) A bachelors degree or higher in any field of study from an accredited college or university. The college or university must be a degree-granting institution accredited by the commission on colleges, a national regional accreditation association or by an accrediting agency that is recognized by the U.S. secretary of education.
SPS 85.420(2) (2) A licensed appraiser who applies for a certified residential appraiser credential shall complete all of the following class hour courses identified under par. (a) and the college-level educational requirements under sub. (1) (b):
SPS 85.420(2)(a) (a) Statistics, modeling and finance — 15 hours.
SPS 85.420(2)(b) (b) Advanced residential applications and case studies — 15 hours.
SPS 85.420(2)(c) (c) Appraisal subject matter electives, as provided in par. (a) — 20 hours.
SPS 85.420 History History: Cr. Register, September, 1991, No. 429, eff. 10-1-91; emerg. am. (1), (2) and (3) (intro.), eff. 10-1-91; am. (1) to (3) (intro.), Register, May, 1992, No. 437, eff. 6-1-92; am. (1) and (2), Register, April, 1994, No. 460, eff. 5-1-94; am. (1), (3) (intro.), Register, June, 1996, No. 486, eff. 7-1-96; am. (2) and (3) (a) to (q), cr. (3) (r), Register, January, 1998, No. 505, eff. 2-1-98; CR 01-100: am. (2), Register February 2002 No. 554, eff. 3-1-02; CR 02-067: am. (1), renum. (2) to be (2) (intro.) and am., cr. (2) (a) and (b) Register November 2002 No. 563, eff. 12-1-02; CR 06-033: renum. from s. RL 84.02 and am. Register November 2006 No. 611, eff. 12-1-06; CR 10-135: r. and recr. Register August 2011 No. 668, eff. 9-1-11; CR 14-016: renum. SPS 85.420 from SPS 84.03; as renumbered, renum. (1) (b) (intro.) to (b) and am., r. (1) (b) 1. to 6. Register September 2014 No. 705, eff. 1-1-15.
SPS 85.430 SPS 85.430Prerequisite for examination.
SPS 85.430(1) (1) An applicant for a certified residential appraiser credential must successfully complete the AQB-approved certified residential real property appraiser examination. The prerequisite for taking the AQB-approved examination is completion of all of the following:
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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.