Is the use of standard appraisal reporting forms required by USPAP Standard 2?

The correct answer indicates that the use of standard appraisal reporting forms is not mandated by USPAP Standard 2. USPAP (Uniform Standards of Professional Appraisal Practice) provides flexibility in how appraisals are reported. Standard 2 sets forth guidelines for the reporting of appraisal results but does not specify the use of standardized forms. Appraisers have the discretion to use any format that conveys the necessary information and meets the expectations of the intended users, as long as it complies with the standards set forth in USPAP.

This allows for a diverse approach in reporting, catering to various types of assignments and the nature of the client’s needs. Appraisers can choose formats based on what best suits the specific appraisal situation and the preferences or requirements of their clients, as long as they adhere to the principles of clarity, completeness, and transparency outlined in the standards.