What is the Uniform Standards of Professional Appraisal Practice (USPAP)?
USPAP Standards Every Appraiser Must Follow
Definition
The Uniform Standards of Professional Appraisal Practice (USPAP) are recognized as the national standards for appraisal practice in the United States. They apply to real property, personal property, business valuation, and mass appraisal. The standards are published and maintained by the Appraisal Standards Board of The Appraisal Foundation.
Congressional Authorization
In 1989, Congress authorized The Appraisal Foundation under Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act to develop and issue appraisal standards and appraiser qualifications. USPAP is the nationally recognized benchmark for appraisal ethics, competency, and reporting.
Why It Matters
• USPAP provides the ethical and procedural framework for credible appraisal and appraisal review work.
• Many state-licensed and federally related assignments require USPAP compliance.
• Attorneys, institutions, and asset managers rely on USPAP when addressing litigation, regulatory matters, and complex valuation questions.
• USPAP supports transparency, repeatability, and defensibility in valuation analysis.
Key Components
• Ethics Rule: impartiality, objectivity, and independence in appraisal practice.
• Competency Rule: the requirement to be competent for an assignment or disclose and gain the needed competency.
• Scope of Work Rule: identification of assignment elements, collection and analysis of relevant data, and development of credible results.
Accessing USPAP
The current edition of USPAP and related resources are available directly from The Appraisal Foundation.
Edge Realty Advisor’s Role
Edge Realty Advisors has completed nationwide litigation and consulting assignments applying Standards (e.g., USPAP) and other applicable requirements to complex appraisal review and valuation consulting matters. Over more than a decade, this work has included assignments for government clients and private enterprises involved in significant litigation.
Learn More
For detailed information and official updates, visit The Appraisal Foundation’s USPAP