IMPORTANT INFORMATION FOR ALL SOUTH CAROLINA APPRAISERS
Board staff continues to receive calls and e-mails concerning information on the USPAP Update requirement for 2022. The Appraiser Qualifications Board will issue a 7-hour USPAP Update course by October 1, 2021, which will be the mandatory USPAP Update course required for renewal for all South Carolina appraisers. This course can be taken any time after October 1, 2021 and before you renew in 2022. Make sure when you take this mandatory USPAP course, it is the correct one you need for renewal.
Below is information received directly from the Appraisal Foundation:
Following the Appraisal Standards Board’s February 19, 2021, decision to extend the effective date of the 2020-21 Uniform Standards of Professional Appraisal Practice (USPAP) for one year, the Appraiser Qualifications Board (AQB) has received questions and feedback about the impact on continuing education requirements, including how long the new 7-Hour National USPAP Update Course will be effective.
After consulting stakeholders and considering their input, the AQB has decided the newest 7-Hour National USPAP Update Course will be effective for two years, keeping it the same as it has been since the AQB introduced this requirement in 2003. The next version of the 7-hour course will be released October 1, 2021 and be available for offering through December 31, 2023. Therefore, anyone that has taken the 7-Hour National USPAP Update Course between January 2020 and December 2021 will need to take newest 7-Hour National Update Course prior to December 31, 2023.
Continuing education is a critical part of any professional license no matter your career. From doctors and dentists to lawyers and accountants, staying up to date with the latest in your profession is critical. After speaking with sponsors, education providers and other critical stakeholders, we feel it is important to maintain consistent continuing education standards, so that all appraisers can have the latest resources in their toolkit for their day-to-day appraisal practice.
More information is available on the Appraisal Foundation website.
Additional questions can be directed to staff by choosing the appropriate option under “Contact Us” on the right side of the Real Estate Appraisers Board’s homepage.
- The Real Estate Appraisers Board next regular meeting will be held on August 12, 2021, at 10:00 a.m in Room 108.
- Real Estate Appraisers CE Tracking System
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- SC Professional Appraisers Coalition - www.scpac.net
- SC Chapter of the Appraisal Institute - www.sc-ai.org
- Appraisal Subcommittee of the Federal Financial Institutions Examination Council
- Real Estate Commission
- Association of Appraiser Regulatory Officials
- The Appraisal Foundation
Important information for all Appraisal Management Companies registered with the South Carolina Real Estate Appraisers Board
Renewals for Appraisal Management Companies are due by June 30, 2021. National Registry fees are also due by June 30, 2021. You can find these forms, along with other applications and forms, on the Real Estate Appraisers Board website.
The online renewal portal cannot be used to renew your Appraisal Management Company registration. However, a document submission option has been added where you can submit your renewal documents and payment. Instructions for the document submission are here. Please use the link in these instructions for document submission.
The National Registry form and payment cannot be submitted online. This form has to be mailed with a check.
Companies are required to supply a bond continuation certificate at renewals, if you already have a bond on file with the Board. If you are submitting a financial statement in lieu of a bond, which is currently still allowed by statute, please include the financial statement form (found with the initial registration application) from the Boardï¿½s website with the renewal. If you are submitting a new bond, make sure to use the bond form under applications and forms on the Board website.
As always, you can contact Board staff for answers to any of your questions concerning laws, policies and other requirements if you are unable to locate your answer on the website. You may also contact staff here.