1/22/2015

"USPAP Certified"


Recently we have seen many appraisers state they are "USPAP" Certified.  As many of us know through guidence of our appraisal organization this term is not correct.

Today at personal property issues committee during The Appraisal Foundation Advisory Council meeting in Washington DC it was reported the question was sent to the ASB FAQ on proper usage.

The question and response is below.  Bottom line is there is no such credential and do not use the term "USPAP Certified".
2014-09: ETHICS RULE - MANAGEMENT “USPAP Certified” Advertisement

Question:
Recently I have seen numerous advertisements from individuals who may have completed a USPAP course, and describe themselves as “USPAP Certified Appraisers,” or their reports as “USPAP Certified Appraisals.” Is this an actual credential, and if not is that wording misleading?

Response:
There is no such credential. The use of the expression “USPAP Certified Appraiser” is misleading. Completing a USPAP course does not entitle one to call oneself a USPAP Certified Appraiser.

One requirement for an appraisal or appraisal review is that the report include the appraiser’s certification that to the best of his or her knowledge and belief the work was performed “in conformity with the Uniform Standards of Professional Appraisal Practice.” The use of language such as “USPAP Certified Appraisal” could be taken by intended users to mean that there was some independent certification of compliance. If that could be inferred from the language used, this would also be misleading.
Source: The Appraisal Foundation


1 comment:

Dave Maloney said...

I addressed the issue of the mis-use of both the term "USPAP Certified Appraisals" as well as the term "USPAP Certified Appraiser" in an article I wrote in 2009. See http://www.appraisalcourseassociates.com/2012/08/01/1105/ - Dave Maloney