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USPAP was originally written in 1986-87 by an ad hoc committee representing the various appraisal professional organizations in the U.S. and Canada. The copyright to USPAP was donated to TAF on April 27, 1987. While USPAP answers a specific regulatory need in the U.S., it has also been adopted by many appraisal professional organizations ...
Appraisal Standards Board. The Appraisal Standards Board (ASB) develops, interprets and amends the Uniform Standards of Professional Appraisal Practice (USPAP). The ASB is composed of seven appraisers who are appointed by the Board of Trustees of The Appraisal Foundation. Activities of the Board are directed by the Chair, who is appointed by ...
California. Bureau executive. Jim Martin, Bureau Chief. Parent bureau. California Department of Consumer Affairs. Website. www.brea.ca.gov. The California Bureau of Real Estate Appraisers (BREA) is a division of the California Department of Consumer Affairs responsible for real estate appraiser licensing and certification in California.
Standard 9, Business Appraisal, Development [37] All USPAP standards dealing with appraisal reporting require that any written and oral appraisal report clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical conditions, and limiting conditions used in the assignment.
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO. A BPO can be either an exterior drive-by or a full interior report.
Real estate appraisal. Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics. The location also plays a key role in valuation.
The Appraisal Foundation is a non-profit organization established in 1987 by the largest valuation organizations in North America. The foundation was congressionally authorized to develop standards and qualifications for real estate appraisers under Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
A Uniform Residential Appraisal Report or URAR is one of the most common forms used in United States real estate appraisals. It was created to allow for standard reporting and analysis of single-family dwellings or single-family dwellings with an "accessory unit". It is also suitable for a building in a planned unit development (PUD) but is not ...
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