Which USPAP Standard(s) must be applied when conducting an appraisal involving multiple properties as part of a single assignment?

When conducting an appraisal involving multiple properties as part of a single assignment, the relevant USPAP standards that apply are Standards 1 and 2.

Standard 1 focuses on the development of a credible appraisal, outlining the requirements for valuing the properties effectively and ensuring the appraiser's understanding of the market and the properties involved. This standard emphasizes forming a value opinion that is supported by appropriate analysis and methodology, which is essential when multiple properties are assessed together to provide a comprehensive evaluation.

Standard 2 addresses the reporting of appraisal results in a manner that is clear and communicates the appraiser's findings effectively. This standard highlights the need for a thorough report that outlines the analysis conducted, the methodologies applied, and the resulting conclusions for each property, while also considering how they relate to each other within the assignment.

By adhering to Standards 1 and 2, the appraiser ensures that each property is assessed correctly and that the overall findings are reported transparently, allowing users of the appraisal to understand how values were determined collaboratively across the multiple properties involved in the assignment. This commitment to both development and reporting is crucial in maintaining professional integrity and compliance with USPAP.