The Government Relations Committee of the North Carolina Chapter of the Appraisal Institute is pleased to announce that HB 431 - Real Estate Appraisal Clarifications was introduced this week in the North Carolina House. Representative John Hardister (R-Guilford) along with Rep. Steve Ross (R-Alamance) and Rep. Ken Goodman (D-Richmond) introduced the bill on behalf of the NCAI.
The purpose of HB 431 is to allow appraisers to perform Evaluations according to the Interagency Appraisal & Evaluation Guidelines outside the scope of USPAP.
The bill will help to streamline state law and reduce costs by eliminating unnecessary regulation on real estate appraisers. Consumer protection remains the top priority and appraisers would still have to abide by ethical standards and keep a record of their evaluations.
The NCAI would like to thank Reps. Hardister, Ross, and Goodman, along with David Ferrell of Vandeventer Black LLP, for their hard work in making this legislation a reality. We will continue to monitor this legislation as it moves through the Legislature and hopefully becomes law. If you have any questions or concerns please contact Mike Moody, MAI, 2017 GRC Chairman, at:
Mike Moody, MAI
2017 GRC Chair