Licensees who fail to renew their license by june 30 will have what status on july 1?

Licensee Renewals:

Renewals are due each year by June 30th. The renewal fee is $200.00. If you want to be included on the National Registry, you must include an additional fee of $60.00. Appraisers must be on the National Registry to perform appraisals for federally-related transactions. A trainee may not be on the registry, but is allowed to work on any reports his or her supervisor is allowed to work on, as long as the client has no objection to a trainee working on the report.

Trainees and appraisers are required to obtain 28 hours of continuing education every two years. Qualifying courses (other than Basic Appraisal Principles and Basic Appraisal Procedures, or their equivalents) may be used for continuing education. Trainees, licensees, and certificate holders who wish to use a precertification course for continuing education credit shall comply with the provisions of 21 NCAC 57B .0604. No continuing education credit shall be given for courses taken before the student was registered as a trainee in this state. The current CE cycle began June 1, 2021 and will go through May 31, 2023.

There are actually two CE cycles. Seven of the 28 hours must be the 7 Hour National USPAP Update course, as required by the Appraiser Qualifications Board of the Appraisal Foundation, or its equivalent. USPAP is revised every even-numbered year, and appraisers must take the even-numbered year edition of USPAP by May 31 of the even-numbered year in order to renew in an even-numbered year. The USPAP Update course may be taken online. The remaining 21 hours of continuing education must be completed before June 1 of every odd numbered year.

If a licensee does not renew by June 30th, the license will lapse and the trainee or appraiser may no longer perform any appraisal work. It is a violation of state law to perform work as an appraiser when not licensed to do so.

For twelve months after a license lapses, a licensee may reinstate their license by paying the renewal fee, the National Registry fee (if desired) and a late fee of $10.00 per month, and once all the CE has been completed and reported by the sponsor. From 12 months - 5 years after the license lapses, the licensee must complete a new application, new criminal background check, the original application fee, and have completed all required CE. Reinstatement is not retroactive.

All required CE must have been taken before a licensee can renew. If they do not have the required CE by June 1st, then they will not be able to renew their license until July 1st, which means they will have to pay a late fee.

All approved CE courses are listed on our website under "Education". Please note that there is no carryover continuing education allowed from one two year cycle to another.

Example 1

John receives a renewal notice in May 2022 that requires him to submit a check for $200.00, plus $60.00 (National Registry fee) before June 30th to renew by June 30, 2022. He has not yet completed his 2022-23 7 Hour National USPAP Update course. If he takes the course by May 31st, he will be able to renew his license by June 30, 2022. If he fails to take the course, he cannot renew until he takes the course, and then only after July 1st. he must also pay a late fee for each month he is late in renewing his license. Note that if he takes the course in June 2022, he still has to wait until July 1 to renew his license.

Example 2

John receives a renewal notice in May 2023 that requires him to submit a check for $200.00, plus $60.00 (National Registry fee) before June 30th to renew by June 30, 2023. He has not yet completed the remaining 21 hours of continuing education. If he takes the remaining courses by May 31st, he will be able to renew his license by June 30, 2023. If he fails to take all the courses, he cannot renew until he takes the courses and then only after July 1. He must also pay a late fee for each month he is late in renewing his license. Note that if he finally completes his classes in June 2023, he still has to wait until July 1 to renew his license.

Example 3

John receives a renewal notice in May 2022 to renew. He has not completed the 2022-2023 7 Hour National USPAP Update course, thus fails to renew. In January 2023, he finally completes the course. In order to renew, he must send in the regular renewal fees and a late fee of $70 ($10.00 per month for seven months). His license will then be reinstated effective January 2023.

Example 4

John receives a renewal notice in May 2022, but chooses not renew his license. He changes his mind in August 2023. In order to renew, he must file an original application (including a criminal background check), pay the original application fee, have completed the 2022-2023 National USPAP Update course, and completed the additional 21 hours of continuing education that was due by June 1, 2023.

Reminder:

It is a violation of state law to perform work as an appraiser when not licensed to do so. Since renewal is not retroactive, any work done in a period of time when a license is lapsed will subject the appraiser to criminal sanctions, and may result in disciplinary action or in the denial of an application for reinstatement.

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