Saturday, January 30, 2010

Maryland HB 42 - Appraisers Knowledge of RE Value Prohibited

Synopsis [via Ann O'Rourke, MAI, SRA, MBA]:

Prohibiting specified real estate appraisers from providing real estate appraisal services under specified circumstances in which the specified real estate appraisers know the asking price or the selling price of the real estate being appraised; providing that a person who violates the Act is guilty of a misdemeanor; and establishing penalties.

A person who violates any provision of this title is guilty of a misdemeanor and on 8 conviction is subject to a fine not exceeding $5,000 or imprisonment not exceeding 1 9 year or both.

So far, I have not seen any explanation about the motivation for this bill, or how to keep the asking and selling prices hidden from appraisers.

[Not to mention that it is direct conflict with USPAP! - Stan Sidor]


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