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The Uniform Standards of Professional Appraisal Practice (USPAP) are the quality control standards applicable for real property and business valuation appraisals. What you may not know are the most common USPAP violations. This list below includes the most frequently encountered violations by TALCB's staff appraiser-investigations when investigating complaints filed with the Board. With this insight, you will be able to communicate more effectively in your appraisal report and successfully avoid missteps when completing an appraisal assignment.
If you are buying, selling, or refinancing your home and a financial institution is involved, you will need an appraisal of your property. An appraisal determines the estimated market value of your home. This is then used to determine whether the property is sufficient collateral for a loan.