Which guidelines must appraisers follow?

Appraisers must adhere to the Uniform Standards of Professional Appraisal Practice (USPAP) as these provide the foundational framework and guidelines for appraisal practice in the United States. USPAP establishes the rules and standards that govern how appraisals should be conducted, ensuring that appraisers act ethically and provide objective, consistent, and unbiased valuations.

The guidelines set forth by USPAP are critical for maintaining the integrity of the appraisal profession, encompassing principles like competency, independence, and confidentiality. By adhering to these standards, appraisers contribute to a trustworthy real estate market, allowing stakeholders to have confidence in property valuations.

While options like FHA Standards and MQA Guidelines may relate to specific aspects of property appraisal in certain contexts, they do not represent the comprehensive set of standards that govern appraisers in all scenarios as USPAP does. Thus, knowing and applying USPAP is essential for appraisers to operate legally and professionally.