When an appraiser is obligated to comply with USPAP, what does this imply?

When an appraiser is obligated to comply with USPAP, it represents a strict requirement for appraisers to adhere to the established standards set forth by the Uniform Standards of Professional Appraisal Practice. USPAP is designed to promote consistency, ethics, and professionalism within the appraisal industry. Compliance with these standards is mandatory for licensed appraisers in the United States, including Minnesota.

This requirement ensures that appraisals are conducted in a manner that upholds the integrity of the appraisal process and provides reliable value conclusions. USPAP outlines specific guidelines and ethical standards that appraisers must follow, including competency, impartiality, and thorough documentation of their analysis and findings. By adhering to USPAP, appraisers help to maintain public trust and safeguard against potential misconduct in the appraisal field.