An organization that was established in 1989 to promote uniform standards for appraisal qualifications and reporting, notably through the publication of the Uniform Standards of Professional Appraisal Practice (USPAP).
An appraisal report documents the findings of an appraisal engagement, summarizing the valuation of a property or asset. Different report formats include restricted, summary, and self-contained reports, compliant with the Uniform Standards of Professional Appraisal Practice (USPAP).
A commentary by one appraiser on the appraisal report prepared by another appraiser, often completed to ensure accuracy and compliance with relevant standards.
A comprehensive set of professional standards promulgated by the Appraisal Foundation, designed for state-certified appraisers and those in certain appraisal organizations to follow in preparing appraisal reports.
The Uniform Standards of Professional Appraisal Practice (USPAP) outlines the ethical standards and requirements for professional appraisers to ensure competency and transparency in the appraisal process.
