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Uniform Standards of Professional Appraisal Practice (USPAP) are a set of guidelines and rules established for the performance of real estate appraisals to ensure consistency, accuracy, and professionalism in the industry.
Professionals involved in the appraisal process, including licensed appraisers and appraisal firms, are required to adhere to and file according to the Uniform Standards of Professional Appraisal Practice.
To fill out the Uniform Standards of Professional Appraisal Practice, individuals must follow the procedures outlined in the USPAP guidelines, ensuring all necessary information is included and accurately reflects the appraisal conducted.
The purpose of Uniform Standards of Professional Appraisal Practice is to promote and maintain a high level of public trust in appraisal practice by establishing a set of ethical and performance standards for appraisers.
Information that must be reported includes the appraiser’s qualifications, the scope of work performed, the methods used in the appraisal, any conflicts of interest, and the conclusions reached regarding the property's value.
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