Iowa Admin. Code r. 193F-5.1
Current through Register Vol. 46, No. 22, May 1, 2024
Rule 193F-5.1 - [Effective 5/22/2024] General(1) Iowa Code chapter 543D regulates appraisal services performed in this state when appraiser certification is needed under federal law. Iowa recognizes two types of certification: certified residential real estate appraiser and certified general real estate appraiser. Iowa does not provide licenses for the "licensed real estate appraiser" category recognized under federal law. More information can be found in 12 CFR Section 34.43. Therefore, appraisal services involving federally related transactions in the state have to be performed by an Iowa certified real estate appraiser with the appropriate certification for the property at issue, or by a person holding an appropriate license or certification from a foreign jurisdiction who also has been issued a temporary practice permit under Iowa Code section 543D.11(2).(2) The chart below outlines the differences between two certifications issued by the board. | Certified Residential Real Estate Appraiser | Certified General Real Estate Appraiser |
Property type that can be appraised | Residential units ranging from one to four tenants | All real estate, including commercial and agricultural |
Qualifying education core curriculum | 200 hours | 300 hours |
Qualifying education | Bachelor's degree or higher from an accredited college, junior college, community college, or university; or, an associate's degree in specific fields, 30 semester hours of college-level course working in specific areas, 30 semester hours of CLEP examinations, or any combination CLEP/college-level covering appropriate hours and topics | Bachelor's degree or higher from an accredited college, junior college, community college, or university |
Experience | 1,500 hours accumulated in no less than 12 months | 3,000 hours with a minimum of 1,500 hours general accumulated in no less than 18 months |
Examination | Certified residential real property appraiser examination or the certified general real property appraiser examination | Certified general real property appraiser examination |
(3) All appraisers performing services regulated by the board are obligated to comply with USPAP.Iowa Admin. Code r. 193F-5.1
ARC 7774B, lAB 5/20/09, effective 6/24/09Adopted by IAB April 17, 2024/Volume XLVI, Number 21, effective 5/22/2024