How long are licensed and certified appraisers required to maintain records relating to appraisal transactions?

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How long are licensed and certified appraisers required to maintain records relating to appraisal transactions?

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A. In most cases, licensed and certified appraisers are required to maintain records for at least 5 years. If the performance of an appraisal results in litigation, licensed and certified appraisers are required to maintain records for at least 2 years after the termination of any litigation related to the transaction for which the appraisal report was prepared. Refer to s. 458.18, Wis. Stats.

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