Standards of Professional Appraisal Practice

The Standards of Professional Appraisal Practice of the Appraisal Institute are composed of the Uniform Standards of Professional Practice (USPAP), promulgated by the Appraisal Standards Board of The Appraisal Foundation, and the Certification Standard of the Appraisal Institute; or the International Valuation Standards, promulgated by the International Valuation Standards Council, applicable national Standards, and the Certification Standard of the Appraisal Institute.

The Uniform Standards of Professional Appraisal Practice

USPAP contains the generally accepted standards for professional appraisal practice in North America, as developed by the Appraisal Standards Board (ASB) of the Appraisal Foundation.

• Standards 1 and 2 establish requirements for the development and reporting of a real property appraisal.
• Standard 3 establishes requirements for development and reporting of an appraisal review assignment involving a real property or personal property appraisal.
• Standards 4 and 5 establish requirements for the development and reporting of real property consulting assignments.
• Standard 6 establishes requirements for the development and reporting of mass appraisals.
• Standards 7 and 8 establish requirements for the development and reporting of personal property appraisals.
• Standards 9 and 10 establish requirements for the development and reporting of business or intangible asset appraisals.

USPAP also includes 10 Statements on Appraisal Standards which clarify, interpret, explain, or elaborate on a Standards Rule and which have the full weight of a Standards Rule and 32 Advisory Opinions which illustrate the applicability of appraisal standards in specific situations and offer advice from the Appraisal Standards Board for the resolution of appraisal issues and problems. Advisory Opinions do not establish or interpret existing standards.

USPAP can be purchased on the Appraisal Foundation website

The Certification Standard of the Appraisal Institute

The Appraisal Institute has adopted the Certification Standard to require specific certification statements that are not a part of USPAP.

Click here to view the Certification Standard of the Appraisal Institute

The Appraisal Institute's Guide Notes to the
Standards of Professional Appraisal Practice

The Appraisal Institute has adopted the Guide Notes to the Standards of Professional Appraisal Practice to provide members with guidance as to how the requirements of the Standards may apply in specific situations.

Guide Note 1: Valuation of Real Estate Component of Real Estate Limited Partnership Interests

Guide Note 2: Cash Equivalency in Valuations

Guide Note 3: The Use of Form Reports for Residential Property

Guide Note 4: Reliance of Reports Prepared by Others

Guide Note 5: Appraisals of Real Estate with Related Personal Property, Business Property, or Intangible Assets

Guide Note 6: Consideration of Hazardous Substances in the Appraisal Process

Guide Note 7: Consideration of the Americans with Disabilities Act in the Appraisal Process

Guide Note 8: Use and Applicability of Letters of Transmittal

Guide Note 9: Use and Applicability of Engagement Letters

Guide Note 10: Developing an Opinion of Market Value in the Aftermath of a Disaster

Guide Note 11: Comparable Selection in a Declining Market

See All: Guide Notes to the Standards of Professional Appraisal Practice

International Valuation Standards (IVS)

IVS, as developed by the International Valuation Standards Council (IVSC), has been adopted or recognized by many valuation institutes, user groups, and financial regulators around the world.

IVS can be purchased on the IVSC website

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