§ 160-X — Classification of services

§ 160-x. Classification of services. 1. A client or employer may\nretain or employ a state certified or licensed real estate appraiser to\nact as a disinterested third party in rendering an unbiased estimate of\nvalue or analysis. A client or employer may also retain or employ a\nstate certified or licensed real estate appraiser to provide specialized\nservices to facilitate the client's or employer's objectives. In either\ncase, the appraisal and the appraisal report must comply with the\nprovisions of this article.\n 2. For the purposes of this article, the term "appraisal assignment"\nmeans an engagement for which an appraiser is employed or retained to\nact, or would be perceived by third parties or the public as acting, as\na disinterested third party in rendering an unbiased analysis, opinion\nor conclusion relating to the nature, quality, value or utility of\nspecified interests in, or aspects of, identified real estate.\n 3. For the purposes of this article, the term "specialized services"\nmeans those appraisal services which do not fall within the definition\nof appraisal assignment. The term "specialized services" may include\nvaluation work and analysis work. Regardless of the intention of the\nclient or employer, if the state certified or licensed real estate\nappraiser would be perceived by third parties or the public as acting as\na disinterested third party in rendering an unbiased analysis, opinion\nor conclusion, the work is classified as an appraisal assignment and not\n"specialized services".\n