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Hiring an appraiser – USPAP by Judith Martin ISA CAPP

The Uniform Standards of Professional Appraisal Practice (USPAP)  is published by The Appraisal Foundation located in Washington DC.   This document is re-issued every two years and is the guidelines for Appraisers and the users of Appraisals.  USPAP involves real estate, personal property and business valuation.  

The document is broken into nine parts.  The first seven sections (Definitions, Preamble, Ethics Rule, Record Keeping, Competency, Scope of Work, and Jurisdictional Exception ) pertain to all those who use USPAP in their professional lives.   The following sections are The Standards which pertain to the development of an appraisal and the reporting of the findings.  The final section is the Statements which clarify, interpret, explain and elaborate the Standards.     

All  the parts of USPAP are important in an appraisers work.  However, USPAP does not state how reports are to be written.  The Standards only indicate what needs to be included in the report to be a USPAP compliant report.