Orlando Appraisal Blog

USPAP changes for 2012 - change templates

1. Certifications now require appraiser to state whether or NOT they have provided services on a subject property for last 36 months from the effective date of value. This is a change from prior criteria.

"I have performed no (or the specified) other services, as an appraiser or in any other capacity, regarding the property that is the subject of the work under review within the three-year period immediately preceding acceptance of this assignment. NOTE: The current Fannie forms do not include this on the certification page." -------------------------------------------

2. Appraiser must now include definition of exposure time related the the market.

EXPOSURE TIME: estimated length of time that the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal.