81-885.16 Real Property Appraiser Act; applicability; broker's price opinion or comparative market analysis; requirements. - Nebraska Statutes

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Statutes > Nebraska > Chapter81 > 81-885_16

81-885.16. Real Property Appraiser Act; applicability;broker's price opinion or comparative market analysis; requirements.(1) The RealProperty Appraiser Act shall not apply to a person licensed under the NebraskaReal Estate License Act who, in the ordinary course of his or her business,gives a broker's price opinion or comparative market analysis, except thatsuch opinion or analysis shall not be referred to as an appraisal.(2) No compensation,fee, or other consideration shall be charged for a broker's price opinionor comparative market analysis other than a real estate commission or brokeragefee charged or paid for brokerage services rendered in connection with thesale of the real estate involved unless the opinion or analysis is in writing,is signed by the preparer, includes the date on which it was prepared, andcontains or has attached thereto the following disclosure in bold fourteen-pointtype: This opinion or analysis is not an appraisal. It is intended only forthe benefit of the addressee for the purpose of assisting buyers or sellersor prospective buyers or sellers in deciding the listing, offering, or saleprice of the real property or for lending purposes in a transaction otherthan a federally related transaction. This opinion or analysis is not governedby the Real Property Appraiser Act.(3) A broker'sprice opinion or comparative market analysis prepared for an existing or potentiallienholder originating, extending, renewing, or modifying a loan in a transactionother than a federally related transaction may not be used as the sole basisto determine the value of the real estate for the purpose of originating aloan secured by such real estate, and the person giving the opinion or analysismust be engaged directly by the lienholder or its agent. Such person shallhave no duty to inquire as to any other basis used to determine such value. SourceLaws 2010, LB931, § 28.Effective Date: April 15, 2010 Cross ReferencesReal Property Appraiser Act, see section 76-2201.

State Codes and Statutes

Statutes > Nebraska > Chapter81 > 81-885_16

81-885.16. Real Property Appraiser Act; applicability;broker's price opinion or comparative market analysis; requirements.(1) The RealProperty Appraiser Act shall not apply to a person licensed under the NebraskaReal Estate License Act who, in the ordinary course of his or her business,gives a broker's price opinion or comparative market analysis, except thatsuch opinion or analysis shall not be referred to as an appraisal.(2) No compensation,fee, or other consideration shall be charged for a broker's price opinionor comparative market analysis other than a real estate commission or brokeragefee charged or paid for brokerage services rendered in connection with thesale of the real estate involved unless the opinion or analysis is in writing,is signed by the preparer, includes the date on which it was prepared, andcontains or has attached thereto the following disclosure in bold fourteen-pointtype: This opinion or analysis is not an appraisal. It is intended only forthe benefit of the addressee for the purpose of assisting buyers or sellersor prospective buyers or sellers in deciding the listing, offering, or saleprice of the real property or for lending purposes in a transaction otherthan a federally related transaction. This opinion or analysis is not governedby the Real Property Appraiser Act.(3) A broker'sprice opinion or comparative market analysis prepared for an existing or potentiallienholder originating, extending, renewing, or modifying a loan in a transactionother than a federally related transaction may not be used as the sole basisto determine the value of the real estate for the purpose of originating aloan secured by such real estate, and the person giving the opinion or analysismust be engaged directly by the lienholder or its agent. Such person shallhave no duty to inquire as to any other basis used to determine such value. SourceLaws 2010, LB931, § 28.Effective Date: April 15, 2010 Cross ReferencesReal Property Appraiser Act, see section 76-2201.

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State Codes and Statutes

Statutes > Nebraska > Chapter81 > 81-885_16

81-885.16. Real Property Appraiser Act; applicability;broker's price opinion or comparative market analysis; requirements.(1) The RealProperty Appraiser Act shall not apply to a person licensed under the NebraskaReal Estate License Act who, in the ordinary course of his or her business,gives a broker's price opinion or comparative market analysis, except thatsuch opinion or analysis shall not be referred to as an appraisal.(2) No compensation,fee, or other consideration shall be charged for a broker's price opinionor comparative market analysis other than a real estate commission or brokeragefee charged or paid for brokerage services rendered in connection with thesale of the real estate involved unless the opinion or analysis is in writing,is signed by the preparer, includes the date on which it was prepared, andcontains or has attached thereto the following disclosure in bold fourteen-pointtype: This opinion or analysis is not an appraisal. It is intended only forthe benefit of the addressee for the purpose of assisting buyers or sellersor prospective buyers or sellers in deciding the listing, offering, or saleprice of the real property or for lending purposes in a transaction otherthan a federally related transaction. This opinion or analysis is not governedby the Real Property Appraiser Act.(3) A broker'sprice opinion or comparative market analysis prepared for an existing or potentiallienholder originating, extending, renewing, or modifying a loan in a transactionother than a federally related transaction may not be used as the sole basisto determine the value of the real estate for the purpose of originating aloan secured by such real estate, and the person giving the opinion or analysismust be engaged directly by the lienholder or its agent. Such person shallhave no duty to inquire as to any other basis used to determine such value. SourceLaws 2010, LB931, § 28.Effective Date: April 15, 2010 Cross ReferencesReal Property Appraiser Act, see section 76-2201.