Maryland SB817 regulates the appraisal communication process for residential real property sales.

Maryland SB817 establishes a communication and review process for residential real property appraisals. It requires appraisers to consider additional market data or comparable sales data submitted by requestors or interested parties before finalizing an appraisal. The final appraisal report must include an addendum detailing the appraisal communication process. Lenders and appraisal management companies must monitor appraisals for compliance. The bill also prohibits using the communication process to pressure or influence appraisers. The law takes effect October 1, 2026.

Maryland SB817 regulates the appraisal communication process for residential real property sales.

Maryland SB817 establishes a communication and review process for residential real property appraisals. It requires appraisers to consider additional market data or comparable sales data submitted by requestors or interested parties before finalizing an appraisal. The final appraisal report must include an addendum detailing the appraisal communication process. Lenders and appraisal management companies must monitor appraisals for compliance. The bill also prohibits using the communication process to pressure or influence appraisers. The law takes effect October 1, 2026.