Texas · Chapter 08 of 44
The Appraisal Process
Purpose and steps of an appraisal, federal oversight of appraisals, the Uniform Standards of Professional Appraisal Practice (USPAP), and TALCB regulation of appraisers.
15-minute read · Built for the TREC Sales Agent Exam
appraisalappraiserUSPAPFIRREATALCBappraisal reviewscope of work
Purpose of an Appraisal
An appraisal is an opinion of value as of a specific date by a licensed or certified appraiser. Common purposes: loan underwriting (most common), estate planning, divorce, tax appeal, eminent domain proceedings. An appraisal is NOT the same as a CMA or BPO.
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