South Carolina has instituted the Real Estate Appraisers License and Certification Act in order to bring appraiser licensing and standards in line with uniform national standards, Valuation Review reported June 5.
South Carolina Gov. Nikki Haley signed HB4644 into law May 16.
The new law requires that all appraisers be at least 18 years of age, provide proof they have completed qualifying education or experience, submit licensure certificates from all jurisdictions in which they are or have been certified, consent to a criminal background check and pass a state examination. As of July 1, applicants who fail to become licensed or certified within two years of passing the exam will have to retake the examination.
Apprentice appraisers also must be high school graduates or hold an equivalent certificate and have to show proof they are working under a state-certified appraiser who has completed at least 75 classroom hours of courses approved by the Appraiser Qualifications Board within the last five years.
South Carolina licensed appraisers also will be required to have an associate’s degree and have completed 2,000 hours of appraisal experience since Jan. 1, 1992, and have completed 150 credit hours of education required for licensure, Valuation Review reported.
Meanwhile, state-certified residential appraisers have to hold a bachelor’s degree and show evidence that they have completed 200 education hours and have completed 2,500 hours of appraisal experience since Jan. 1, 1992. General appraiser requirements will be the same, save for the requirement to complete 300 hours of education within the last five years.
Those wishing to qualify for mass appraiser, state-certified residential mass appraiser or state-certified general mass appraiser have to have had 100 percent of requisite experience hours in the area of mass appraisals.
Under the new law, licenses, certifications and apprentice permits will expire biennially on June 30.
Valuation Review also reported that the board will provide each certified appraiser with an identification number that they must use when signing reports. Appraisers also will have to maintain a log of appraisals on a board-approved form.