The Uniform Standards of Professional Appraisal Practice

 

The Uniform Standards of Professional Appraisal Practice (USPAP) provides professional appraisers with rules and guidelines for their appraisal practice.  USPAP has been adopted and endorsed by all of the major U.S. appraisal organizations.  Federal law requires states, as part of their real estate appraiser certification and licensing programs, to use USPAP.

 

The purpose of USPAP is to establish common standards for use by the the community of valuers.  Together with increased educational and experience requirements implemented via the Appraisal Qualifications Board (AQB), the appraisal profession via the Appraisal Foundation has taken steps to "raise the bar" for new appraisers.

 

USPAP is updated by the Appraisal Standards Board (ASB) on a biennial (every 2 year) basis, the current USPAP docmment is for 2014 through 2015.  USPAP contains standards for all types of appraisal services including standards for the appraisal of real property, personal property, business and mass appraisal.  The ASB published a brochure called "Information for Appraisers and their Clients" which has been made available on this site as a public service.  The brochure discusses the role of the ASB, what USPAP is and it provides information to readers regarding how they can impact future USPAP revisions.

 

Licensed / certified appraisers are required to take a course on the most recent USPAP update once every two (2) years as part of their continuing education requirement.  

   

Contact us with your questions or concerns regarding USPAP or regarding your specific appraisal assignment in Nevada at 1-702-568-6699.  We can also be e-mailed at grigdon@cox.net

 

 

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Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.