Honesty and Integrity: Appraisal***

Appraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.

As appraisers our main obligation is to their client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to review an appraisal report, you generally have to obtain it through your lender. Other obligations also include, accurate calculations appropriate to the scope of the report, attaining and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Appraisal***, we take these ethical responsibilities very to heart.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Appraisal*** you can rest assured that we adhere to that rule.

When working on an assignment, we follow the highest ethical standards possible. Doing orders on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite appraisal fraud since raising the estimate of the home would raise the fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics as the acceptance of an assignment that is contingent on "the reporting of a pre-determined result (e.g., opinion of value)," "a direction in assignment results that favors the cause of the client," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.

With Appraisal***, you won't have any doubts that you're receiving 100 percent ethical, professional service.