What standards do appraisers follow?

Appraisers adhere to the Uniform Standards of Professional Appraisal Practice (USPAP) as their primary guiding framework. USPAP sets forth a comprehensive set of guidelines, principles, and ethical standards that ensure appraisals are conducted with impartiality, integrity, and consistency. These standards are recognized nationwide and are essential for maintaining credibility and trust in the appraisal process.

Following USPAP helps appraisers to provide reliable and defensible valuations while acting in the best interest of their clients and the public. It encompasses various aspects, including definitions of appraisal terminology, the responsibilities of appraisers, and the requirements for the preparation of appraisal reports. The adherence to these standards ensures that all appraisals are performed competently and transparently, which is crucial for stakeholders involved in real estate transactions.

While alternative options may touch upon relevant aspects of the appraisal profession, such as ethics and legal considerations, none provide the comprehensive framework and acknowledged authority that USPAP supplies for appraisers in their practice. This adherence ultimately promotes professionalism within the industry and upholds the quality of real estate valuations.