What is the Appraisal Foundation?

The Appraisal Foundation is a nonprofit organization dedicated to the advancement of professional valuation. It was established by the appraisal profession in the United States in 1987.

See the Appraisal Foundation website information on the following:

• How to obtain a copy of USPAP as well as questions and answers related to USPAP 
• Appraiser qualification criteria (AQB Criteria) 
• Periodic electronic publications for State regulators
• Descriptions of current Foundation initiatives

How is the Appraisal Foundation related to ASC?

The ASC is authorized by Title XI to make grants to the Appraisal Foundation, to help defray those costs of the Foundation related to two activities:
 

• Qualifications Board (AQB). The AQB establishes the qualification criteria for state licensing, certification and re-certification of real property appraisers. Title XI mandates that all state certified appraisers must meet the minimum education, experience and examination requirements promulgated by the AQB. In addition, examinations used by States for the certification of appraisers must be reviewed and approved by the AQB.
   
• Appraisal Standards Board (ASB). The ASB establishes minimum education and experience requirements for appraisers. The ASB issues the USPAP, industry standards for conducting real estate appraisals. The Appraisal Foundation is funded by a grant from the ASC, revenue from the sale of the USPAP, and fees from USPAP courses and other activities.

Exposure Drafts

To view and/or comment on current and past AQB and ASB exposure drafts please visit the Appraisal Foundation Exposure and Discussion Drafts page.