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How does USPAP affect your career as an appraiser? As a licensed or certified appraiser, you must comply and perform your appraisals according to these standards.
By following these guidelines, you ensure that you are qualified to offer fair and accurate appraisal services.
The Uniform Standards of Professional Appraisal Practice, known as USPAP (pronounced YOOS-PAP), include the accepted standards for professional appraisal practice in North America. It defines the guidelines for all types of appraisal services. There are specific standards that apply to real estate appraisals. Their purpose is to promote and maintain a high-level of service in the real estate field.
History of USPAP
Prior to 1987, there was no universal set of standards when it came to real estate appraisal. To promote fair business practices and prevent fraudulent activities, eight U.S.-based organizations and one Canadian company formed a committee and created USPAP. Developed in 1986 by the Ad Hoc Committee on Uniform Standards and copyrighted in 1987 by The Appraisal Foundation, USPAP forms the guidelines that are followed by every real estate appraiser in the United States. Its purpose is to create a minimum set of criteria that professional appraisers conform to, as well as develop uniform standards that are recognized in the marketplace.
As a real estate appraiser, you need to stay current with your USPAP training. If you are getting your Appraisal Trainee License or want to become a Licensed Residential Appraiser, you need to complete the 15-hour National USPAP course. If you are a Licensed or Certified Appraiser and need to satisfy your two-year USPAP requirement, you need to enroll in the 7-hour National USPAP Update Course.
It is easy to fulfill the USPAP requirements through distance education. The self-paced, user-friendly courses can provide you with the training you need to keep your appraisal license current and up to date.Labels: appraiser career, certified appraiser, Professional Appraisal, uspap
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