Adopted by Congress in 1989, the Uniform Standards of Professional Appraisal Practice (USPAP) provides guidance for appraisers to help them deliver unbiased and objective assessments of value. In this fact-packed video, the chair of the Appraisal Standards Board and the vice president of appraisal issues at the Appraisal Foundation share an excellent overview of the essential changes to the 2020-2021 edition of the USPAP. Mandatory compliance is required for state-licensed and state-certified appraisers involved in federally-related real estate transactions. Updated every two years, the latest update is focused on balancing appraiser flexibility while protecting public trust.
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