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Upon completion of the report, what assurance is there that the value conclusion is valid?

In the documentation of an appraisal, each appraiser must make sure of the following:

  • That the information analysis contained in the appraisal was suitable.
  • That significant errors of omission or commission were not committed individually or collectively.
  • That appraisal services were done in a careful and conscientious fashion.
  • that a credible, supportable appraisal report was imparted.

To become a state licensed appraiser, we must fulfill considerable education and experience requirements that enable us to produce an unbiased opinion. Plus, appraisers must abide by a meticulous industry code of ethics and observe national standards of practice for real estate appraisal. The guidelines for carrying out an appraisal and documenting its results are insured by enforcement of the Uniform Standards of Professional Appraisal Practice (USPAP).