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Appraisal Institute releases alternative appraisal standards
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Tuesday, September 2, 2014
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The Appraisal Institute, the nation’s largest professional association of real estate appraisers, announced Aug. 26 the availability of its Standards of Valuation Practice (SVP).
The SVP were developed to serve as an alternative for valuation professionals where national or other standards are not required.
“This is a huge step forward for the real estate valuation profession,” Appraisal Institute President Ken Wilson said. “The Standards of Valuation Practice will provide a high-quality, straightforward option for appraisers that is principles-based and not rules-based.”
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