32-3612 - Arizona Statutes

32-3612. Classifications of licensure and certification A. The following classifications of state licensed real estate appraisers and state certified real estate appraisers are established: 1. State certified general real estate appraisers consisting of those persons meeting the requirements for certification relating to the appraisal or appraisal review of all types of real property. 2. State certified residential real estate appraisers consisting of those persons meeting the requirements for certification relating to the appraisal or appraisal review of one to four residential units without regard to value or complexity. 3. State licensed real estate appraisers consisting of those persons meeting the requirements for licensing relating to appraisal or appraisal review of noncomplex one to four residential units having a value of less than one million dollars and complex one to four residential units having a value of less than two hundred fifty thousand dollars. B. Notwithstanding section 32-3602: 1. All federally related transactions involving property with a value equal to or greater than one million dollars and complex one to four family residential real property shall be appraised by a state certified appraiser. 2. All federally related transactions not requiring a state certified appraiser may be appraised by either a state certified or state licensed appraiser. C. All nonfederally related transactions may be appraised either by a state certified or a state licensed appraiser.