Selecting Appraisers
Regulation requires that qualified appraisers perform appraisal functions.
By regulation, anyone preforming an appraisal, or appraisal related services in determining an opinion of value, or the act or process of developing an opinion of value, shall be competent and qualified to perform these functions per
; 43 TAC Chapter 9 Subchapter F.
All real estate appraisers performing appraisals for TxDOT must be licensed by the Texas Appraiser Licensing and Certification Board, as provided in the Texas Appraiser Licensing and Certification Act (
). Title 7, Section 1103.03, defines appraisal “as an opinion of value; or the act or process of developing an opinion of value”. This licensing requirement also applies to federally related transactions.
49 CFR 24.103(d)(2) requires an agency to utilize a state licensed or certified real estate appraiser when an appraisal is prepared by a fee contractor. TxDOT requires individuals to be TxDOT
Department-Certified
before they can perform any appraisal or appraisal related function.