Wisconsin Legislature: Chapter SPS 85

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.