The Appraisal Foundation, a not-for-profit organization that publishes Uniform Standards of Professional Appraisal Practice (USPAP), has released its fourth exposure draft of proposed changes to the upcoming 2012-2013 edition of USPAP. The exposure draft (a draft created to allow for public comments) was created by the Appraisal Foundation’s Appraisal Standards Board (ASB), which is composed of six appraisers appointed for three-year terms by the Board of Trustees of The Appraisal Foundation. The Appraisal Foundation governs most appraisal standards in the United States.

Among other changes and updates, this exposure draft emphasizes revising USPAP’s reporting requirements and options. “The goal of [USPAP] is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for appraisers,” wrote ASB Chair Sandra Guilfoil in a letter accompanying the recent draft. “This fourth exposure draft continues its refinement of additional changes to USPAP that are intended to improve its clarity, relevance and enforceability.”

The draft can be found at https://appraisalfoundation.sharefile.com/d/se001d41a1384c57b.

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By: Marketing & Consultant Services, Inc.