USPAP Again?

This article was published in the January 2012 issue of the IllinoisAppraiser Newsletter.

In March of 2011 an Administrative Rule seemed to slip by without so much as a whimper.

A real estate appraiser must complete the 7-hour National USPAP Update Course or its equivalent within 6 months after the effective date of USPAP. Those real estate appraisers issued a license more than 6 months after the effective date of USPAP shall complete the 7-hour National USPAP Update Course within 6 months after licensure.

Wait a minute. Didn’t you just take the 7-hour National USPAP Update a few scant months ago?

If you’re like most procrastinating appraisers, you probably did take the 2010 USPAP Update a month or less before the end of the cycle.

Taking the 2010 version of the National USPAP Update Course in September 2011 is like buying milk a day before the expiration date.

What’s the point of taking an expiring course at the same time that The Appraisal Foundation is preparing to release the next version?

It only makes sense to take the 2012-2013 USPAP by the first half of 2012, doesn’t it?

This leaves you the next six months to find a class or to take an online course. Then you’ll be ready to apply what you’ve learned.

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Illinois Appraisal Newsletters at IDFPR

Provided as a service to licensed and registered Illinois appraisal professionals as well as Illinois course providers and users of appraisals. Illinois Appraiser Newsletters promote a greater understanding of USPAP, the Act, and the Administrative Rules of the State of Illinois.promote a greater understanding of USPAP, the Act, and the Administrative Rules of the State of Illinois.

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