Property Valuation
What does USPAP require of Delaware appraisers?
AFollowing federal guidelines for commercial property appraisals only
BFollowing the Uniform Standards of Professional Appraisal Practice — the national standards governing appraisal ethics, competency, and reporting requirements✓ Correct
CFollowing Delaware-specific state appraisal guidelines only
DUsing only the sales comparison approach for all residential appraisals
Explanation
USPAP (Uniform Standards of Professional Appraisal Practice) is the national standard developed by The Appraisal Foundation and required by FIRREA for all federally related appraisals. Delaware certified and licensed appraisers must comply with USPAP.
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