On May 13, the governor of Montana signed into law HB 872 to amend the state’s regulations concerning appraiser licensing. The act clarifies that licensed or certified real estate appraisers can offer evaluations to financial institutions. An “evaluation” is defined as an equation to estimate the market value of real property, which are estimates of market value in accordance with federal guidelines, without needing a formal appraisal when not required by federal law. This act will go into effect on July 1.
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