For honest and ethical appraisals, count on Appraisal Specialists

We think of our business as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we have a strict ethical code.

As appraisers our primary obligation is to his or her client. Normally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to review the appraisal document, you generally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, acquiring and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Appraisal Specialists, we take these ethical responsibilities very seriously.

Appraisers will often need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - something else Appraisal Specialists diligently adheres to.

When creating reports, we follow the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we are not able to 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 probably the appraisal industries biggest no-no, because it would invite fraudulent practices since raising the value 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 confident we are going above and beyond to objectively determine the home or property value.

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