What is USPAP?

USPAP is the Uniform Standards of Professional Appraisal Practice, published by The Appraisal Foundation. It is the rulebook every licensed appraiser in the United States works under, and compliance is a condition of holding a license, not an option.

What it actually requires

  • Competency. The appraiser must be competent in the property type and the market, or must disclose the gap and take steps to fill it before accepting the assignment.
  • Independence. Impartial and objective, regardless of who is paying or what result they were hoping for.
  • No contingent fees. Compensation may never be tied to the value reached or to whether a deal closes.
  • Stated scope of work. The report must say what was done and what was not, and the scope must be enough to produce credible results for the intended use.
  • Named intended use and users. An appraisal is written for a specific purpose and specific people, and it is not a general-purpose document.
  • A workfile. Retained for at least five years, or two years after testimony, whichever is longer.

Why it matters to you

USPAP is why an appraisal carries weight that an online estimate does not. It is why the appraiser cannot be paid more for a higher number, and why a lender cannot lean on the outcome. When a report is challenged, USPAP is the standard it gets measured against.

What it does not do

USPAP does not dictate what a property is worth or which approaches must be used. Those are the appraiser's judgment. It governs how that judgment is developed, supported, and reported.

Questions about your assignment

Call 984-360-8050 or email claude@globalappraisal.net.