QUALIFIED, CAPABLE PROFESSIONALS
We have completed the required appraisal courses from the American Society of Appraisers (ASA), and The Appraisers Association of America (AAA), which are two of the eight major appraisal societies that, in 1987, founded The Appraisal Foundation (TAF).
Since 1989, the United States Congress has recognized TAF as the source for the development and promulgation of appraisal standards and qualifications. AAA require appraisers to be compliant with Uniform Standards of Professional Appraisal Practice. We are recognized in at least five Northern California counties as an expert witness.
What is USPAP?
The Uniform Standards of Professional Appraisal Practice (USPAP) is the official guidance document published by the Appraisal Standards Board (ASB) of The Appraisal Foundation (TAF). USPAP was adopted by the United States Congress in 1989 following the problems caused by the savings and loan crisis and defines a set of recommended procedures and ethical standards for appraisers. Compliance is required in order to belong to one of the three major appraisal trade organizations, Appraisers Association of America (AAA), American Society of Appraisers (ASA), and International Society of Appraisers (ISA). USPAP is updated every two years so that appraisers have the information they need to deliver unbiased and thoughtful opinions of value. According to U.S. law, USPAP compliance is required for real estate appraisers, those who evaluate buildings and homes, but is only voluntary for personal property appraisers, who evaluate items such as antiques and fine arts within a house. The public does not always know that USPAP compliant is better, as this is not highly publicized.
A USPAP-compliant appraiser protects the interests of the client while still being a neutral third party. Compliant means there is a signed certification of non-bias and impartiality in the appraisal report; there is prepared a detailed work file to document the specifics of the appraisal; and the appraiser meets the competency requirements either through self education, experience or education classes. AAA requires its members to earn 70 hours of continuing education credits over a five year period.
Compliance is a mark of professionalism and ethical standards and serves to protect users of appraisal services. We are proud to state that Hoitt’s Appraisals has been compliant for 20 years and have been a proud member of the Appraisers Association of America since 2015.