CT HB05501

Permits certified real estate appraisers to perform limited scope real estate estimated valuations in accordance with regulations adopted by the Commissioner of Consumer Protection, effective October 1, 2014.

Requires the Commissioner of Consumer Protection to adopt regulations establishing the form, scope, standards, and allowable fees for limited scope real estate estimated valuations performed by certified appraisers.

Maintains existing requirements that real estate appraisers obtain permission before entering premises for comparable property evaluation and identify themselves as appraisers.

Preserves the restriction that limited appraisers cannot perform appraisals in connection with federally related transactions as defined under FIRREA (Title XI).