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HB12-1110 requires all new and upgrading appraisers who submit an application on or after July 1, 2013 to submit a set of fingerprints to the Colorado Bureau of Investigations prior to the submission of their application. It is strongly suggested that possible candidates submit this information as soon as possible to avoid additional delays due to fingerprint processing times. Please review the fingerprint information bulletin for additional details.
All currently licensed appraisers must also submit a set of fingerprints prior to renewal for licensees who expire December 31, 2013, 2014 and 2015. An appraiser who fails to submit fingerprints in time for their renewal will not be allowed to renew their license until fingerprints are received, and may incur reinstatement penalty fees. Fingerprint process is currently taking 4 to 6 months. Appraisers may begin the fingerprint submission process at any time. Appraisers expiring in 2013 are strongly encouraged to submit their fingerprints at least 6 months in advance of their renewal to ensure timely processing. Please review the instructions for submission of fingerprints for renewal for further details.
The Colorado Legislature passed House Bill 12-1110 Regulation of Appraisal Management Companies. The regulation of appraisal management companies goes into effect July 1, 2013.
Controlling Appraisers and owners of Appraisal Management Companies (AMCs) with a minimum ownership interest of 10% in the company must submit fingerprints prior to application. Applicants may submit prints before the July 1st implementation date. The Division of Real Estate will hold the prints pending receipt of initial application. Online applications for AMCs will be available on our website on July 1, 2013. Please review the fingerprint information bulletin for further details on the fingerprinting process.
The Colorado Board of Real Estate Appraisers has recently become aware of some circumstances in which real property appraisers have been requested to follow-up on issues identified by engineers, home or building inspectors during the course of an inspection.
If your current license is set to expire at the end of this year and you are seeking a license upgrade, please make sure you allow sufficient time for the upgrade to be processed. This may take four (4) months, and it is possible that the application may not be approved. If your application is received within several weeks of the end of the year, you will need to renew your current license if you plan to continue to practice, otherwise your current license may expire prior to any upgrade decision.
Proposed Revisions to the Real Property Appraiser Qualification Criteria (Criteria) have been adopted by the Appraiser Qualifications Board (AQB). The Criteria, which were adopted at the December 2011 meeting of the AQB, will be effective on January 1, 2015.