Which requirement do clients or intended users often impose that exceeds USPAP standards?

Clients or intended users often request a one-year sales history of comparables as a requirement that goes beyond the standards set by USPAP. While USPAP promotes a strong ethical framework and mandates that appraisers provide credible and unbiased valuations, it does not specify how detailed or how far back the sales data should extend. Therefore, a requirement for a one-year sales history can be seen as an enhancement imposed by clients to ensure they have comprehensive data for their decision-making process. This level of detail may be necessary for specific transactions or unique market conditions but is not a standard that all appraisals require under USPAP.

The request for such detailed historical data can be attributed to the client’s desire for thoroughness and risk mitigation, especially in instances where real estate values may be volatile or impacted by recent market changes. This illustrates a common practice where clients seek additional insights tailored to their unique circumstances, leading them to exceed the minimum requirements dictated by USPAP.