Which laws must an appraiser be knowledgeable of and comply with when performing an appraisal?

An appraiser must be knowledgeable of and comply with federal, state, and local antidiscrimination laws when performing an appraisal because these laws collectively establish a framework to ensure fair and equitable treatment in the appraisal process.

Federal laws, such as the Fair Housing Act and the Equal Credit Opportunity Act, prohibit discrimination based on race, color, religion, sex, national origin, familial status, or disability. These laws set the minimum standards for appraisal practices across the country.

State antidiscrimination laws can often be more stringent than federal laws, imposing additional requirements or protections based on local contexts. Appraisers need to comply with these state-specific regulations, as they may vary significantly from one state to another.

Local antidiscrimination laws can also play a critical role, particularly in municipalities that have enacted their own laws to promote fair housing and prevent discrimination within their communities. Appraisers, therefore, must be aware of and adhere to these local regulations to ensure compliance at all levels of governance.

This comprehensive awareness helps maintain integrity and fairness in the appraisal process, protects consumers' rights, and ensures that appraisers operate within the legal framework established by various governmental entities.