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Kentucky Flag - U.S.A.

Kentucky Flag

  • Capital - Frankfort
  • Largest City - Louisville
  • Area - 40,409 sq mi (37th largest state)
  • Became a state - June 1, 1792 (15th)
 
 

The Kentucky Real Estate Appraiser Board (KREAB) was created in 1992 and is responsible for protecting the public interest through regulations and law under Chapter 324A and 201KAR Chapter 30. The Kentucky Board does this partly by adopting rules and regulations prescribing respective policies and procedures. In addition, the Kentucky Board has subpoena power, holds disciplinary hearings, and conducts examinations. The Kentucky appraiser Board is in compliance with the provisions of the Financial Institutions Reform, Recovery, and Enforcement Act (Title XI).

  • Authority to administer appraiser regulations.
  • Conduct educational seminars.
  • Investigate allegations of wrongdoing.
  • Perform other functions and duties as needed.

Any person or organization, may file a written complaint alleging Kentucky real estate appraiser possible violations. All complaints are investigated by the Kentucky appraiser Board. No person other than a licensed or certified appraiser is allowed to engage in a written appraisal in connection with a real estate related financial transaction. Further, it is against the law to act as a appraiser without respective licensure. Violations of law may lead to a misdemeanor or felony charge.

The Board consists of five members. The Board members are appointed by the governor. Board members may not serve more than two full consecutive terms. The Kentucky Board is located in Richmond, KY.

  • Two members are certified appraisers.
  • One member represents the general public and is not associated with the practice of appraisals.
  • Two are employed in the lending industry.

The State of Kentucky has 120 counties.

Adair Allen  Anderson  Ballard
Barren Bath Bell Boone
Bourbon Boyd Boyle Bracken
Breathitt Breckinridge Bullitt Butler
Caldwell Calloway Campbell Carlisle
Carroll Carter Casey Christian
Clark Clay Clinton Crittenden
Cumberland Daviess Edmonson Elliott
Estill Fleming Floyd Franklin
Fulton Gallatin Garrard Grant
Graves Grayson Green Greenup
Hancock Hardin Harlan Harrison
Hart Henderson Henry Hickman
Hopkins Jackson Jessamine Johnson
Kenton Knott Knox LaRue
Laurel Lawrence Lee Leslie
Letcher Lewis Lexington-Fayette Lincoln
Livingston Logan Louisville Jefferson Lyon
Madison Magoffin Marion Marshall
Martin Mason McCracken McCreary
McLean Meade Menifee Mercer
Metcalfe Monroe Montgomery Morgan
Muhlenberg Nelson Nicholas Ohio
Oldham Owen Owsley Pendleton
Perry Pike Powell Pulaski
Robertson Rockcastle Rowan Russell
Scott Shelby Simpson Spencer
Taylor Todd Trigg Trimble
Union Warren Washington Wayne
Webster Whitley Wolfe Woodford

There are currently three classifications of appraisers. The qualifications for individuals are set by the Appraiser Qualifications Board of The Appraisal Foundation.

  1. Licensed Appraiser
  2. Certified Residential Appraiser
  3. Certified General Appraiser

Please read the following for an overview of each.

1. Licensed Appraiser

  • Minimum of 195 classroom hours of specific subjects.
  • 15 hours in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
  • Establish at least 2,000 hours of appraiser experience over a minimum 12 month period.
  • Must have an Associate's degree or equivalent from an accredited institution or 21 semester hours in respective classes.
  • Pass the licensed exam.

2. Certified Residential Appraiser

  • May perform an appraisal on one to four family residential units without regard to transaction value or complexity.
  • Minimum of 215 classroom hours of specific subjects.
  • 15 hours in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
  • Establish at least 2,500 hours of appraiser experience over a minimum 24 month period.
  • Must have an Associate's degree or equivalent from an accredited institution or 21 semester hours in respective classes.
  • Pass the certified exam.

3. Certified General Appraiser

  • May perform an appraisal on all types of real estate.
  • Minimum of 300 classroom hours of specific subjects.
  • 15 hours in respect to the Uniform Standards of Professional Appraisal Practice (USPAP).
  • Establish at least 3,000 hours of appraiser experience over a minimum 30 month period.
  • Must have a Bachelor's degree or higher from an accredited institution or 30 semester hours in respective courses.
  • Pass the certified general exam.

All Kansas appraiser work must be in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP).

Prior to receiving a Kentucky Licensed or Certified designation, an individual must complete a minimum of 90 classroom hours of specific course study. Further, a total of 15 hours must be in respect to the Uniform Standards of Professional Appraisal Practice (USPAP). An Associate is an individual engaged in the practice of appraisala who is being taught to become a licensed or certified under the direct supervision of a supervising appraiser.

If you would like to find a job as a Kentucky Real Estate Appraiser, click here.

Kentucky Appraiser - County Search U.S.A. - Real Estate

The Appraisal Process - Overview of the on-site inspection, report generation, and respective guidelines.