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Updated March 2008

UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE 2008-2009 EDITION The 2006 Edition of USPAP reflects extensive changes resulting from the Appraisal Standards Board (ASB) examination of the proper role of the scope of work and departure concepts in the appraisal process. This material provides answers from the ASB regarding some of the most common questions about these changes.

What is an appraisal?
What is an appraiser?
What's the difference between an appraiser and a real estate agent?
Why do I need an appraisal?
Who can do appraisals?
What do appraisers really do?
What about appraiser licensing?
What are appraisers' professional standards?
What state laws are appraisers subject to?
Who regulates appraisers?
How do you become an Appraiser?
How do I get ready for the appraiser?
Appraisers and lenders - what is the appraiser's role?
Can I use this appraisal for another lender?
Who "owns" the appraisal?
If I'm paying for the report, will you send me a copy?
When do you need your own appraiser?
What should you look for when hiring an appraiser?
What about fees?
What are "MAI appraisers"?
What if you don't agree with an appraisal?
Which home renovations add the most to the price?
What exactly is PMI and how can I get rid of it?
What about appraising paintings, jewelry, machinery, etc.?
What about appraising businesses?