2008-2009 USPAP Frequently Asked Questions

USPAP Frequently Asked Questions (“USPAP FAQ”) is a form of guidance issued by the ASB to respond to questions raised by appraisers, enforcement officials, users of appraisal services and the public to illustrate the applicability of USPAP in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems.

Throughout USPAP Frequently Asked Questions, titles of questions and responses that are new for this 2008-2009 edition are identified in italics. 

I've collected just those FAQs that are new to this edition AND apply specifically to real property appraisers:

• Conduct 11. Don't Accept Unless You Can Appraise for...
• Ethics 30. Discounted Appraisal Fees
• Ethics 34. Appraisal Fee Paid at Close of Financing Transaction
• Ethics 52. Workfile Retention with More Than One Appraiser
• Ethics 54. Trainee Access to Workfiles
• Ethics 59. Jurisdictional Exception and Workfile Retention
• Appraisal Dev. - Client 74. Readdress or Transfer
• Appraisal Dev. - Client 76. Identification of Intended Users
• Appraisal Dev. - Client 79. Engaged Directly by the Homeowner
• Appraisal Dev. - Client 80. Client Approval for Future Assignments

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Appraisal Dev. - Scope of Work 92. What is Scope of Work?

Appraisal Dev. - Scope of Work 93. Applicability of SCOPE OF WORK RULE

Appraisal Dev. - Scope of Work 94. Responsibility for the Scope of Work Decision

Appraisal Dev. - Scope of Work 95. Client Specifies Scope of Work

Appraisal Dev. - Scope of Work 96. How Credible Results are Measured

Appraisal Dev. - Scope of Work 98. Judging an Appraisers Peers Actions

Appraisal Dev. - Scope of Work 110. Cost Approach and Fannie Mae Form 1004

Appraisal Dev. - Scope of Work 112. Improvement Only Appraisal

Appraisal Dev. - Scope of Work 125. Updating a Prior Assignment with a Different Scope of Work

Appraisal Dev. - Scope of Work 128. Recertification of Value

Appraisal Dev. - Scope of Work 130. Appraisers Providing Comps

Appraisal Dev. - Scope of Work 131. Sudden Market Changes Related to Catastrophic Events

Appraisal Dev. - Scope of Work 132. Citing the Source of the Value Definition and Fannie Mae Form 1004

Appraisal Reporting Use & Format 173. Fannie Mae Update Report Form 1004D

Appraisal Reporting Use & Format 178. Reporting Work not Done in an Assignment

Appraisal Reporting Use & Format 179. Separate Scope of Work Section in the Report?

Appraisal Reporting Use & Format 182. Disclosure of the Intended User in a Report

Appraisal Reporting Use & Format 183. Disclosure of the Intended Use in a Report

Appraisal Reporting Use & Format 188. Paper Copies of Electronically Transmitted Reports

Appraisal Reporting Use & Format 193. Communicating Assignment Results Without a Written Report

Appraisal Reporting Use & Format 197. Developing Unnecessary Approach

Appraisal Review 205. Review Report on Three Appraisal Reports

Appraisal Review 214. Review Appraiser Bias

The advice presented may not represent the only possible solution to the issues discussed and the advice provided may not be applied equally to seemingly similar situations. USPAP FAQ does not establish new standards or interpret existing standards.