NAPA

The National Association of Professional Appraisers (NAPA) is an organization of appraisal experts who provide economic valuations of real, personal, and intangible property. NAPA members obtain certifications and advanced educational programs in the field of valuation. Present Value LLC is a proud affiliate of NAPA.

NAPA follows the Uniform Standards of Professional Appraisal Practice (USPAP). In addition to USPAP, NAPA requires professional members to prepare appraisal reports in a uniform manner, each containing certain required elements:

• A clear statement of the purpose and scope of the assignment
• A clear definition of the appropriate value
• A description of the methods and techniques used to estimate the value
• A clear description of the property and rights being appraised
• A certification statement that includes the unbiased position of the appraiser
• Supporting evidence (sources and research consulted, comparable sales, or other reasonable evidence)
• A statement of qualifications of the appraiser that specifically states why the appraiser is qualified to perform a particular appraisal assignment

Additionally, there are 10 NAPA membership Rules of Ethics.

1. Members agree to perform their duties as appraisers ethically.
2. Members agree not to set fees on a percentage basis or that are contingent on arriving at a particular value.
3. Members agree not to act as advocates, but as objective estimators of value.
4. Members agree not to appraise a property in which the appraiser has a present or future interest without fully disclosing that fact.
5. Members agree not to advertise or solicit appraisal work through inaccurate, misleading, false, or deceptive claims.
6. Members agree not to misuse their professional status with NAPA.
7. Members agree to respond to an inquiry or complaint notice from the NAPA peer review committee.
8. Members agree to disclose who performed the appraisal and to have each participant who contributed significantly to the assignment sign a certification statement.
9. Members agree that the appraiser is required to possess both the knowledge and experience to perform an appraisal task competently or obtain appropriate assistance.
10. Members agree that an appraisal assignment is a confidential matter and agree not to disclose the nature of the assignment except to the client, a court of law, or NAPA peer review committee.

By: Present Value

Tags: appraisal, associations, napa
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