For honest and ethical appraisals, trust Residential Appraisal

Appraising is typically a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.

As appraisers our primary obligation is to their client. Generally, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you require to review the appraisal document, you should get it through your lender. Other responsibilities also include, accurate figures appropriate to the scope of the assignment, acquiring and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Residential Appraisal, we take these ethical responsibilities very to heart.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - at Residential Appraisal you can rest assured that we abide by that rule.

When creating reports, we follow the highest ethical standards possible. Doing orders on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We don't do that. Other improper practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 at ease knowing we are going above and beyond to objectively determine the home or property value.

With Residential Appraisal, you can be assured of 100 percent ethical, professional service.