Certification #11 - Competency

The Competency Rule of the USPAP allows an appraiser to accept an assignment even though he/she is not competent to do the appraisal provided that:

1. The appraiser disclose the lack of competency before accepting the assignment.
2. The appraiser takes the necessary steps to complete the assignment competently.
3. The appraiser disclose the lack of competency and the means of overcoming the lack of competency in the report.

FNMA, on the other hand, DOES NOT permit an appraiser to do an appraisal unless he/she is competent with respect to the market area and property type.

Certification #11 on the URAR and similar forms says:

"I have knowledge and experience in appraising this type of property in this market area."

Conclusion: FNMA requires that an appraiser turn down any appraisal in which he/she is not qualified to perform.