Who maintains a national registry of appraisers?
The Registry is maintained by the Federal Financial Institutions Examination Councils (“FFIEC”) Appraisal Subcommittee (“ASC”).
What is condemnation with regards to appraisal procedures?
When a government agency, utility, energy company or other entity takes private property through eminent domain (known as “condemnation”), the landowner is entitled to the payment of just compensation.
The Uniform Standards of Professional Appraisal Practice (USPAP) is the generally recognized ethical and performance standards for the appraisal profession in the United States.
How often should you get an appraisal?
Theres really no set schedule when it comes to reappraisals. But if you fall into one of these categories, you should consider scheduling one soon: When you have a mortgage. If your home is still under mortgage, you should consider a home appraisal every one or two years.
Offering an incentive for an appraiser, assessor or inspector to change the value of your home in your favor is not only bribery, but it can also be a form of fraud.
FAQ
Who makes USPAP changes?
Which entity is responsible for monitoring state appraiser licensing?
Does the Appraisal Foundation have the authority to enforce the requirements of USPAP?
Which entity has the authority to monitor the activities of the Appraisal Foundation?
The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council monitors and reviews the work of The Foundation.
