USPAP ComplianT STANDARDS & ETHICS
Our work is governed by the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation, establishing uniform qualifications criteria for professional appraisers, and by the American Society of Appraisers Code of Ethics.
USPAP compliant appraisals provide the highest standards in the industry. USPAP standards are monitored by The Appraisal Foundation, a not-for-profit educational organization dedicated to the advancement of professional valuation, established by the appraisal profession in 1987.
STark Regulation Compliance
In performing healthcare valuations, the standard of value must comply with Stark Law’s definition of Fair Market Value (“FMV”) and meet the requirements of commercial reasonableness (fair, done in good faith, and corresponding to commonly accepted commercial practices). Our appraisals are performed in accordance with the approaches to value and standards of value as defined by USPAP and the American Society of Appraisers.
USPAP and the American Society of Appraisers defines FMV as:
The amount expressed in terms of money that may reasonably be expected for property in exchange between a willing buyer and a willing seller with equity to both, neither under compulsion to buy or sell and both fully aware of all relevant facts.
Furthermore, a complete definition of FMV according to Federal Register, Final Rule, Stark II, Phase II Regulations, March 26, 2004, Stark regulations found at 66 Fed. Reg. 856 (2001), 69 Fed. Reg. 16054 (2004) and 72 Fed. Reg. 51081 (2007) can be found here, page 16128.