USPAP, which you might hear pronounced like "YOOS-pap," is the Uniform Standards of Professional Appraisal Practice. USPAP is published and maintained by the Appraisal Standards Board (ASB) of the Appraisal Foundation, a non-governmental entity charged by Congress with promulgating appraisal standards.

USPAP is revised bi-annually, and almost never radically.  It includes sections covering rules and standards of reporting, such as an Ethics Rule and a Competency Rule.  It includes 10 Standards, each covering in detail different functions an appraiser might perform such as; Real Property Appraisal, Reporting, Business Appraisal, Development.  It includes 10 Statements, which are used to clarify or supplement the Standards.  It also includes Advisory Opinions, such as "When does USPAP apply in valuation services?" and "Clarification of the client in a federally related transaction," which describe appraisal situations and how they would be governed under the Rules and Standards of USPAP.

Another major component of USPAP compliance is the Scope of Work. The assignment parameters or scope of work, must be able to produce a credible report that is compliant with USPAP. If during the appraisal process the original scope of work does not allow for a credible report, your appraiser may need to contact you to expand this area and possibly change their fee.

Every appraiser is charged with knowing and following USPAP. We also must complete Continuing Education periodically to relearn the basics and become familiar with new Advisory Opinions along with annual changes to USPAP.  USPAP is considered the legal binding code of conduct for appraisal practice.