Property Valuation
USPAP (Uniform Standards of Professional Appraisal Practice) applies to Louisiana appraisers because:
AIt is required by the LREC for all property valuations
BIt is the national standard adopted by state licensing laws for certified appraisers performing federally related transactions✓ Correct
CIt is required only for HUD properties
DIt is optional for residential appraisers
Explanation
USPAP is the national standard adopted by state appraisal licensing laws pursuant to FIRREA. Certified and licensed appraisers performing federally related transactions must comply with USPAP, which is enforced by the Louisiana Real Estate Appraisers Board.
Related Louisiana Property Valuation Questions
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