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2012 USPAP Changes

The 2012 USPAP contains changes critical for the appraiser.

1.        Certification 2-03.  Appraiser must disclose whether or not they have provided prior services on a property being appraised in the last 36 months from a possible Effective Date of Value.   This requirement is stated in Certification in SR 2-3 and can be found on page 29 in the 2012- USPAP manual.  Appraiser must disclose if they have a current or prospective interest in the property or parties to the transaction.

2.        The 2012 USPAP requires appraiser to include the Exposure time statement in the report.    Read USPAP 2012 on this and refer to Exposure Time definition.