We’re pleased to share that the governor of New York signed a bill explicitly approving real estate licensees to perform valuations and valuation-related data collection in the state of New York. It’s a reversal to the April 2019 decision which restricted some non-appraisal products that an appraisal management company (AMC) can order in the state.
This bill was sponsored by the Real Estate Valuation Advocacy Association (REVAA) in partnership with Clear Capital and other industry participants. Below is a list of products that were restricted, which are now allowed:
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Desktop Appraisal + Property Inspection
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ClearVal Hybrid Appraisal
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Appraiser-Enhanced BPO
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Modern Appraisal Program
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Residential Evaluation
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Property Condition Inspection
Clear Capital worked hard to ensure this issue in New York was temporary in partnership with the state, trade associations, and other stakeholders, and we are ready to resume business as usual! Please reach out with any questions and to discuss the optimal valuation mix for your business needs: 530-550-2525.
