House Bill 1797 permits appraisers to perform evaluations of real estate for financial institutions
Legislation passed the Washington State House of Representatives yesterday that would make it easier for licensed or registered real estate appraisers to do evaluations for financial institutions.
House Bill 1797 permits appraisers to perform evaluations of real estate for financial institutions as long as a disclaimer is provided stating the appraiser is not engaged in appraisal activity at the time of the evaluation.
“This is a way to expand the services that appraisers can offer their clients and make it easier for the industry to get high-quality evaluations,” said Rep. Greg Cheney, R-Battle Ground and prime sponsor of the bill.
Determining market value for some transactions does not always require a complete appraisal. An evaluation can be done by a number of different individuals, but not appraisers.
“Technically speaking, an appraiser is significantly overqualified to offer real estate evaluations, but existing state law forbids them from doing so. My bill corrects this oversight,” said Cheney. “This is a win-win for appraisers, lenders, and buyers.”
House Bill 1797 is Cheney’s first bill to pass the state House of Representatives. His bill now moves to the Senate for further consideration.
Information provided by Washington State House Republicans, houserepublicans.wa.gov
Also read:
- High School Baseball: Clark County All-Stars shine for most of the nightSeniors from local high schools gathered in Ridgefield on Tuesday for the annual Clark County Senior All-Star Baseball series, and then coaches voted for the county’s nominees to the all-state series later this month.
- Opinion: State’s income tax windfall isn’t needed – public schools have plenty of moneyLiv Finne states that in Washington, ‘fully funding the schools’ means funding the interests of powerful unions, bureaucracies, and feeding ever-growing amounts of tax money into an increasingly unpopular monopoly system.
- Washington state predicts U.S. economic ‘slowdown,’ not recessionWashington state forecasts a slowdown in the U.S. economy, predicting lower GDP growth, higher unemployment rates, and decreasing oil prices in the coming years.
- Opinion: The debt-limit deal is a bust!Speaker Kevin McCarthy criticized for selling out conservatives in debt-ceiling deal and failing to include spending cuts, prompting calls for Republicans to vote against the Biden/McCarthy agreement.
- Ridgefield School District hires new assistant principal at View Ridge Middle SchoolJennifer Johnson, highly experienced educator and interim assistant principal at Columbia River High School, has been hired as the new assistant principal at View Ridge Middle School in the Ridgefield School District, bringing her expertise and leadership to support the district’s learning community.
- Night time delays for guardrail installation on southbound I-5 in Woodland, May 31Travelers returning home from the extended weekend should expect nightly lane closures on southbound Interstate 5 in Woodland as a new guardrail is installed for improved safety.
- Sheriff John Horch invites area residents to second community forumClark County Sheriff John Horch invites residents to a community forum discussing crime trends, agency updates, and future initiatives, offering an opportunity to ask questions and engage with the sheriff’s leadership team.