What are the Appraisal Standards?

The Uniform Standards of Professional Appraisal Practice (USPAP) is the generally recognized ethical and performance standards for the appraisal profession in the United States.  USPAP was adopted by Congress in 1989, and contains standards for all types of appraisal services, including real estate, personal property, business and mass appraisal.  Compliance is required for state-licensed and state-certified appraisers involved in federally-related real estate transactions.  USPAP is updated every two years so that appraisers have the information they need to deliver unbiased and thoughtful opinions of value.

To become a real property appraiser in the US, appraisers must take the 15-Hour National USPAP Course (or its equivalent).  Additionally, real property appraisers must take the 7-Hour National USPAP Update Course (or its equivalent) once every two calendar years.  To read more about the USPAP Courses, please visit our USPAP Course webpage located here

2016-17 ERRATA Sheet 

Administrative edits to USPAP.

 


Summary of Actions

Lists adopted changes for
the 2016-17 version of USPAP.

 

To purchase your copy of 2016-17 USPAP, click here.

To view a copy of the 2016-17 USPAP, click here.

How Can I Impact USPAP Revisions?

The Appraisal Standards Board (ASB) actively seeks the input of appraisers, their clients, users of appraisal services, and regulators. The ASB welcomes all comments and questions on USPAP and receives numerous telephone, electronic, and written inquiries.  In response, the ASB communicates directly with hundreds of individuals each year.

In accordance with its public charge, the ASB is required to issue exposure drafts of all proposed revisions to USPAP Standards and Statements.  In addition, though its not required, most Advisory Opinions are also publicly exposed exposure for comment.  All exposure drafts are posted on the Foundation website and are available free of charge by contacting the Foundation directly.  Interested parties can contribute to this process by submitting written comments to ASBComments@appraisalfoundation.org or by offering oral testimony at an ASB public meeting.


How is USPAP Enforced?

Although the ASB writes, amends, and interprets USPAP, the Board does not enforce USPAP.  Through FIRREA, the Federal government has mandated that the states enforce real property appraiser compliance to USPAP.  Professional appraisal associations also have the legal authority to enforce USPAP compliance by their members.  In addition, many users of appraisal services (such as lenders, mortgage companies, etc.) have adopted USPAP and require employee or contract appraiser compliance to USPAP.  

Complaints regarding real property appraisers should be directed to the state(s) in which they are licensed or certified.  For more information about filing a complaint against a real property appraiser, please visit our Enforcement and Complaints webpage located here.  Complaints about an appraiser of any other discipline, such as personal property or business valuation, should be forwarded to the professional organization to which the appraiser belongs (when applicable).