Mckissock Basic Appraisal Principles Ex
k k k k
am Questions And Answers
k k k
grantkdeedk-
kEastondeedkcontaining,korkhavingkimpliedkbyklaw,ksomekbutknotkallkofkthek
usualkcoven
antskofktitle
Appraiserk-
kEastonOnekwhokiskexpectedktokperformkvaluationkserviceskcompetentlykandkink
akmannerkth
atkiskindependent,kimpartial,kandkobjective.
reportk-
kEastonanykcommunication,kwrittenkorkoral,kofkankappraisalkorkappraisalkreview kthatkisktra
nsmittedktokthekclientkorkakpartykauthorizedkbykthekclientkuponkcompletionkofkankassignme
nt.
narrativekreportk-
kEastonAkwrittenkcommunicationkofkthekresultskofkakvaluationkorkreviewkassignmentkprese
ntedktokthekclientkinknarrativekstylekratherkthankonkakformkorkorally.
ThekAQBk-
kEastonchargedkwithkestablishingkthekqualificationskthatkallkthekstateskmustk
meetkinklicensi
ng,kcertificationkandkre-certificationkofkappraisers.
januaryk8th,k2008k-
EastonMajorkchangesktokthekCriteriakwentkintokeffectkMayk1,k2018k-
k
EastonAdditionalkrevisionskwerekmadekeffective
k
fourkcomponentskofkthekRealkPropertykAppraiserkQualificationkCriteriak-
kEastonqualifyingk
ed,keducation,kexaminations,kcontinuingked
ThekAppraisalkFoundationk-kEastonnot-for-
profitkorganization,kestablishedkexclusivelykforkeducationalkandkscientifickpurposes.
AfterkThekAppraisalkFoundationkwaskformed,kthekUniformkStandardskofkProfessionalkAppra
isalkPracticek-
kEastonwaskformallykadoptedkbykthek AppraisalkStandardskBoardk(ASB)k
inkJanuaryk1989.
ThekAppraisalkFoundationkhaskthreekprincipalkboards:k-
EastonBoardkofkTrusteesk(BOT)kAppraisalkStandardskBoardk(ASB)
k
AppraiserkQualificationskBoardk(AQB)
ThekBOTk-kEastonactskaskankexecutivekboardkforkthekFoundation.
,ThekASBk-
kEastonresponsiblekforkcreatingkstandardskforkethicskandkperformancekofk
appraisers
.
, UniformkStandardskofkProfessionalkAppraisalkPracticek(USPAP)k-
kEastonwaskdevelopedkbykthekAdkHockCommitteekink1986kandk1987kandkwaskcopyrightedkink
1987kbykThekAppraisalkFoundation.
Atkitskfirstkmeetingkink1989,kthekAppraisalkStandardskBoardk(ASB)k-
kEastonadoptedkUSPAPk askthekgoverningkdocument.
USPAPkmaykbek-kEastonamended,kinterpreted,ksupplemented,korkretiredkonlykbykthekASB.
CongresskrecognizedkUSPAPk-
kEastonaskthekgenerallykrecognizedkstandardskofkpracticek
inkthekappraisalkprofessionkinkT
itlekXIkofkthekFinancialkInstitutionskReform
thekAppraisalkSubcommitteek(ASC)k-
kEastoniskakfederalkentitykwithkoversightkauthorityk
overkthekstateklicensingkandkcertifica
tionkagencies
AMCsk-kEastonappraisalkmanagementkcompanies
ThekBoardkofkTrusteesk-
kEastonomposedkofk21kindividualskresponsiblekforkfundingkThek AppraisalkFoundationkan
dkappointingkthekmembersktokThekAppraisalkFoundation'skotherkboardsk-
kthekAppraisalkStandardskBoardkandkthek AppraiserkQualificationskBoard.
TAFACk-
EastonAppraisalkFoundationkAdvisorykCouncilkiack-
k
EastonIndustrykAdvisorykCouncil
k
AppraisalkStandardskBoardk-
kEastonexerciseskallkauthoritykandkpowerkoverktheksubject,k
style,kcontent,kandksubstancekof
kUSPAP
AppraisalkPracticeskBoardk(APB)k-
kEastonitskpurposekwasktokcreatekguidancektokassistk
appraiserskinkissueskrelatingktokrec
ognizedkvaluationkmethodskandktechniques.
EvenkthoughkthekAPBknoklongerkexistsk-
kEastonThek AppraisalkFoundationkplansktok
continuektokissuekthesekValuationkAdvis
orieskaskitkdeemsknecessary.
AppraisalkSubcommitteekwaskcreatedk-kEastonunderkSectionk1103kofkTitlekXIkofkFIRREA
HUDk-
kEastonDepartmentkofkHousingkandkUrbankDevelopment,konlykactkonkcomplaintkwithk
fairklen
ding
k k k k
am Questions And Answers
k k k
grantkdeedk-
kEastondeedkcontaining,korkhavingkimpliedkbyklaw,ksomekbutknotkallkofkthek
usualkcoven
antskofktitle
Appraiserk-
kEastonOnekwhokiskexpectedktokperformkvaluationkserviceskcompetentlykandkink
akmannerkth
atkiskindependent,kimpartial,kandkobjective.
reportk-
kEastonanykcommunication,kwrittenkorkoral,kofkankappraisalkorkappraisalkreview kthatkisktra
nsmittedktokthekclientkorkakpartykauthorizedkbykthekclientkuponkcompletionkofkankassignme
nt.
narrativekreportk-
kEastonAkwrittenkcommunicationkofkthekresultskofkakvaluationkorkreviewkassignmentkprese
ntedktokthekclientkinknarrativekstylekratherkthankonkakformkorkorally.
ThekAQBk-
kEastonchargedkwithkestablishingkthekqualificationskthatkallkthekstateskmustk
meetkinklicensi
ng,kcertificationkandkre-certificationkofkappraisers.
januaryk8th,k2008k-
EastonMajorkchangesktokthekCriteriakwentkintokeffectkMayk1,k2018k-
k
EastonAdditionalkrevisionskwerekmadekeffective
k
fourkcomponentskofkthekRealkPropertykAppraiserkQualificationkCriteriak-
kEastonqualifyingk
ed,keducation,kexaminations,kcontinuingked
ThekAppraisalkFoundationk-kEastonnot-for-
profitkorganization,kestablishedkexclusivelykforkeducationalkandkscientifickpurposes.
AfterkThekAppraisalkFoundationkwaskformed,kthekUniformkStandardskofkProfessionalkAppra
isalkPracticek-
kEastonwaskformallykadoptedkbykthek AppraisalkStandardskBoardk(ASB)k
inkJanuaryk1989.
ThekAppraisalkFoundationkhaskthreekprincipalkboards:k-
EastonBoardkofkTrusteesk(BOT)kAppraisalkStandardskBoardk(ASB)
k
AppraiserkQualificationskBoardk(AQB)
ThekBOTk-kEastonactskaskankexecutivekboardkforkthekFoundation.
,ThekASBk-
kEastonresponsiblekforkcreatingkstandardskforkethicskandkperformancekofk
appraisers
.
, UniformkStandardskofkProfessionalkAppraisalkPracticek(USPAP)k-
kEastonwaskdevelopedkbykthekAdkHockCommitteekink1986kandk1987kandkwaskcopyrightedkink
1987kbykThekAppraisalkFoundation.
Atkitskfirstkmeetingkink1989,kthekAppraisalkStandardskBoardk(ASB)k-
kEastonadoptedkUSPAPk askthekgoverningkdocument.
USPAPkmaykbek-kEastonamended,kinterpreted,ksupplemented,korkretiredkonlykbykthekASB.
CongresskrecognizedkUSPAPk-
kEastonaskthekgenerallykrecognizedkstandardskofkpracticek
inkthekappraisalkprofessionkinkT
itlekXIkofkthekFinancialkInstitutionskReform
thekAppraisalkSubcommitteek(ASC)k-
kEastoniskakfederalkentitykwithkoversightkauthorityk
overkthekstateklicensingkandkcertifica
tionkagencies
AMCsk-kEastonappraisalkmanagementkcompanies
ThekBoardkofkTrusteesk-
kEastonomposedkofk21kindividualskresponsiblekforkfundingkThek AppraisalkFoundationkan
dkappointingkthekmembersktokThekAppraisalkFoundation'skotherkboardsk-
kthekAppraisalkStandardskBoardkandkthek AppraiserkQualificationskBoard.
TAFACk-
EastonAppraisalkFoundationkAdvisorykCouncilkiack-
k
EastonIndustrykAdvisorykCouncil
k
AppraisalkStandardskBoardk-
kEastonexerciseskallkauthoritykandkpowerkoverktheksubject,k
style,kcontent,kandksubstancekof
kUSPAP
AppraisalkPracticeskBoardk(APB)k-
kEastonitskpurposekwasktokcreatekguidancektokassistk
appraiserskinkissueskrelatingktokrec
ognizedkvaluationkmethodskandktechniques.
EvenkthoughkthekAPBknoklongerkexistsk-
kEastonThek AppraisalkFoundationkplansktok
continuektokissuekthesekValuationkAdvis
orieskaskitkdeemsknecessary.
AppraisalkSubcommitteekwaskcreatedk-kEastonunderkSectionk1103kofkTitlekXIkofkFIRREA
HUDk-
kEastonDepartmentkofkHousingkandkUrbankDevelopment,konlykactkonkcomplaintkwithk
fairklen
ding
