What is NOT required by Standard 1 when developing a real property appraisal?

In the context of Standard 1 of USPAP, the requirement for perfection in developing an appraisal is not a realistic or necessary standard. Standard 1 emphasizes the need for the appraiser to develop a credible appraisal through the use of appropriate methodologies and sufficient data. It does not demand perfection; rather, it focuses on the requirement to perform due diligence, apply sound judgment, and ensure that the appraisal process is clearly documented.

The other components, such as the use of a standard appraisal form, conducting a thorough site inspection, and documenting data sources, are important elements that contribute to the credibility and reliability of the appraisal. A standard appraisal form may be advisable for consistency, a thorough site inspection is crucial for gathering firsthand information about the property, and documenting data sources is essential for transparency and support of the appraiser's conclusions. However, the notion of achieving perfection in appraisal development is not a practical or achievable expectation within the framework established by USPAP.