USPAP Question and Answers

I am disappointed to see the Appraisal Foundation will now only be posting USPAP Question and Answers on as needed basis. That will make it more difficult to track or at least post the Q&As on a timely basis.When I see new Q&A on the Appraisal Foundation site I will post.

The Appraisal Foundation stated "Beginning in 2010 the ASB will be publishing USPAP Q&As on an “as needed” basis rather than monthly basis. With each publication, the individual questions and responses will have a numeric reference associated with the year and order of their publication. For example, five Q&As are being published in January 2010, and will be identified as numbers 2010–01 through 2010–05. The Q&As will continue to be compiled and placed in the appropriate topic areas of the frequently Asked Questions section of each subsequent edition of USPAP, when relevant".

The first 5 questions for 2010 are as follows are mostly discuss ethical issues for appraiser regarding disclosure.  Something that is pertinent to personal property appraisers.  As professional appraisers we should be familiar with and follow the disclosure procedures if applicable.

• Disclosure of any prior services regarding the subject property, when an appraiser has appraised the property multiple times.

• Disclosure of any prior services regarding the subject property, when an appraiser has performed services other than appraisal practice.

• Disclosure of any prior services regarding the subject property before accepting an assignment, when the client had previously required an appraiser to sign a confidentiality agreement.

• Disclosure of any prior services regarding the subject property before accepting an assignment, when the appraiser only works for one client.

• Disclosure requirements when an appraiser has NOT performed services regarding a property in the prior three years.

To read the full Q&As posted in January, 2010 with answers, click HERE.