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Current as of January 01, 2025 | Updated by Findlaw Staff
A. A state-certified general real estate appraiser, state-certified residential real estate appraiser or state-licensed real estate appraiser shall not accept a fee for an appraisal assignment that is contingent upon the appraiser reporting a predetermined estimate, analysis or opinion or is contingent upon the opinion, conclusion or valuation reached, or upon the consequences resulting from the appraisal assignment.
B. A state-certified or state-licensed real estate appraiser who enters into an agreement to perform specialized services may be paid a fixed fee or a fee that is contingent on the results achieved by the specialized services.
C. If a state-certified general real estate appraiser, state-certified residential real estate appraiser or state-licensed real estate appraiser enters into an agreement to perform specialized services for a contingent fee, this fact shall be clearly stated in each written report of an appraisal. In each written report, this fact shall be clearly stated in a prominent location in such report and also in each letter of transmittal and in the certification statement made by the appraiser in such report.
Cite this article: FindLaw.com - Massachusetts General Laws Part I. Administration of the Government (Ch. 1-182) Ch. 112, § 192 - last updated January 01, 2025 | https://codes.findlaw.com/ma/part-i-administration-of-the-government-ch-1-182/ma-gen-laws-ch-112-sect-192/
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