USPAP
compliant

Every appraisal report Appraisal MS delivers is prepared under the Uniform Standards of Professional Appraisal Practice (USPAP), the standards that let a lender, a court or a county board rely on it. Questions about a report go to Ask Gerry; to order one, use the quote form or call (425) 967-3498.

What is USPAP?

The ethical and performance standards for appraisers in the United States. The Appraisal Standards Board of The Appraisal Foundation writes and updates them; Congress authorized the Foundation as the source of appraisal standards and appraiser qualifications. Washington State requires every licensed and certified appraiser to follow USPAP, and state law builds it into the rules the Department of Licensing enforces.

What does it require of us?

Independence and objectivity. We cannot accept an assignment whose fee or continuation depends on reaching a predetermined value, and we cannot advocate for any party. Our only obligation is to a credible, supported opinion.

Competency. The appraiser must have the knowledge and experience to do the assignment, or must acquire it and disclose that, or decline the work.

A stated scope of work. Every report identifies the problem to be solved, the intended use and users, the type of value, the effective date, and the research and analysis performed, so a reader knows what the opinion rests on.

Confidentiality. Assignment results and confidential information go only to the client and intended users, and to others only as the law permits.

Record keeping. A workfile is kept for every assignment for at least five years, or longer when the appraiser has testified about it.

Continuing education. Appraisers must complete a USPAP update course every two years to keep their license.

Why does it matter to you?

USPAP is the reason an appraisal can be relied on by a lender, a court, the IRS or a county Board of Equalization, and it is what separates an appraisal from a broker's opinion or an online estimate. "USPAP compliant" on an Appraisal MS report means a Washington State licensed or certified appraiser prepared it under those standards and is personally accountable for it.

Where can you learn more?

The current edition of USPAP is published by The Appraisal Foundation. Washington appraiser licensing is run by the Washington State Department of Licensing, where you can verify any appraiser's credential.