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Podcast: Tim Andersen, The Appraiser's Advocate Podcast
Episode: USPAP, Verification, and Bernoulli’s Fallacy – TAA Podcast 152
Description: USPAP, Verification, and Bernoulli’s Fallacy. That’s a mouthful! What does it mean? I’m assuming you’ve heard of USPAP. Verification is an important component of USPAP’s SR1-4 (learn it, love it, use it). But it is likely Bernoulli’s Fallacy is something you don’t know about. Yet. You will, though. It is going to become really important in residential real estate appraisal, especially when UAD3.6 takes effect in November of 2026. Read on to learn why.
Really USPAP, verification and Bernoulli’s Fallacy go together. USPAP’s Standards Rule 1-4 requires us appraisers to “…collect, veri...