- (1) Except when the transaction is an Interagency Transaction, or a transaction with the United States Government, the Transacting Agency must determine the value of a Real Property Interest via Appraisal. When transaction is an Interagency Transaction, or a transaction with the United States Government, the Transacting Agency and the other party to the transaction may determine the value as they deem appropriate.
- (2) If the Real Property Interest has an estimated fair market value of less than $100,000, a Broker Opinion of Value from a licensed real estate professional may substitute for an Appraisal.
(3) If the estimated fair market value of the Real Property Interest is $100,000 or more, the Administrator:
- (a) Must either select or approve the selection of an appraiser by the Disposing Agency; and
- (b) Must refer the transaction to the PLAC for review and recommendation.
- (4) Upon written request by an Agency, the Administrator may preapprove the Agency's Appraisal process provided the process is consistent with this rule.
- (5) Upon written request by an Agency, the Administrator may preapprove the Agency's use of a Directed Appraisal for a particular use.
Statutory/Other Authority
ORS 270.015, 270.100 & 270.105
Statutes/Other Implemented
ORS 270.015, 270.100 & 270.105
History
DAS 1-2022, amend filed 02/28/2022, effective 03/01/2022
DAS 1-2020, amend filed 03/03/2020, effective 03/03/2020
DAS 10-2009, f. & cert. ef. 11-19-09
DAS 4-2006, f. 5-12-06, cert. ef. 6-1-06