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Due to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 licensed and certified real estate appraisers in the United States who are involved in a federally related transaction are required to follow federally accepted, uniform standards, known as USPAP, which are promulgated by the Appraisal Standards Board of the Appraisal Foundation. [2]
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 achievement of this designation represents the initiative to excel beyond the normal requirements for operating a hearing instrument dispensing practice. The designation, BC-HIS (Board Certified in Hearing Instrument Sciences), distinguishes the Board Certificant's outstanding skills and professional expertise needed for completion of the ...
Traditional appraisal process. No-appraisal process. Inspection. Licensed appraiser inspects property in person. Uses automated valuation models (AVMs) to assess value
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.
According to the “2023 Appraisal Survey” of appraisers by the National Association of Realtors, the typical cost to conduct an appraisal is $500 in 2023, with 86 percent of those surveyed ...
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