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TAF carries out its work through two divisions – the Appraisal Standards Board (ASB) and the Appraiser Qualifications Board (AQB). The latter group sets forth minimum qualifications for appraisal licensure, and its work has been adopted by all states and territories. The ASB maintains USPAP, and issues updates in January of even numbered years.
The scope of work is the first step in any appraisal process. Without a strictly defined scope of work, an appraisal's conclusions may not be viable. By defining the scope of work, an appraiser can properly develop a value for a given property for the intended user, and for the intended use of the appraisal.
The Appraisal Foundation (TAF) is the United States organization responsible for setting standards for the real estate valuation profession. The organization sets the congressionally authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals.
The organization was formally formed in 1952, after consolidation of two prior appraisal organizations, The American Society of Technical Appraisers (ASTA), and the Technical Valuation Society (TVS). [ 2 ]
Depending on the scope of work expected by the users of the appraisal and the appraisal's limiting conditions, if the appraiser has not observed any indications of an infestation in his normal investigation, the appraiser may omit such an investigation and make a general assumption that the property is not infested with termites and not have to ...
An appraiser (from Latin appretiare, "to value") is a person that develops an opinion of the market value or other value of a product, most notably real estate.. The current definition of "appraiser" according to the Uniform Standards of Professional Appraisal Practice (USPAP) is: "One who is expected to perform valuation services competently and in a manner that is independent, impartial and ...
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".
FNC was founded in 1995 by Bill Rayburn, Dennis Tosh, Robert Dorsey and John Johnson, then finance professors at the University of Mississippi and financial consultants, who recognized a need to manage collateral assets in mortgage transactions.
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