June 30th Is Fast Approaching
- Hybrid Assignments, the Consequences - February 7, 2019
- Bankers Concerned About Appraisals - October 18, 2017
- Third Party Blues - July 19, 2017
Have you taken your 2012-2013 National USPAP Update yet?
Section 1455.160: (Paraphrased) A real estate appraiser must complete the 7-hour National USPAP Update Course or its equivalent within 6 months after the effective date of USPAP. Those real estate appraisers issued a license more than 6 months after the effective date of USPAP shall complete the 7-hour National USPAP Update Course within 6 months after licensure.
This has been Illinois law since January 20, 2011 which means that it was meant to begin with the 2012-2013 release of USPAP.
I get a lot of appraisers who say the following: “But, I just took USPAP in September!”
Correction: You just took the 2010-2011 USPAP in September. You are yet to take the 2012-2013 USPAP.
“How come Illinois is doing this? Other states don’t make their licensees take it so early in the renewal.”
Correction: Wyoming’s deadline was April 1. North Carolina’s is May 31. Kentucky is June 30. Get the picture?
“Can I take the USPAP Update on-line or does it need to be in a classroom?”
So long as it’s done by June 30th, you can take it in either format.
“This isn’t fair! The state is just doing this for the money.”
Correction: IDFPR doesn’t make a nickel off of this unless we fine you later for not taking it by June 30.
This board, and other boards around the country think that taking the new USPAP when it’s still new; is important. Things change quickly in this profession.
Besides, even I completed my USPAP Update course in February. Time is running out. We don’t want your money. We want you to learn.
By Lee Lansford – Illinois Appraiser Newsletters – Volume 4, Issue 5
Oh shoot, I’d better not wait to take this class. Got to keep up with the better side of the industry, even if there is leeway round these parts. / Thanks again to the IL group, with their well informed and rare example of positive leadership in this failing appraisal valuation industry.