For honest and ethical appraisals, rely on Accurate Appraisals

We think of what we do as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we have a strict ethical code.

The appraiser's main responsibility is to his or her client. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you want a copy of an appraisal report, you generally have to request it from your lender. Other obligations also include, accurate sums appropriate to the parameters of the report, attaining and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Accurate Appraisals, we take these ethical responsibilities very to heart.

Appraisers will often need to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - something else Accurate Appraisals diligently adheres to.

Accurate Appraisals holds itself to the industry standards and mandates set in place for professional behavior. We won't accept anything less from ourselves. We never do assignments on contingency fees. That is, we don'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 probably the appraisal industries biggest no-no, because it would invite appraisal fraud since raising the value of the home would inflate the their paycheck. We don't do that. Other improper practices may be established by state law or professional organizations to which an 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," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.

When you engage Accurate Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.