For honest and ethical appraisals, trust Accurate Appraisals

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.

For an appraiser the primary obligation is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to review the appraisal document, you should get it through your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the assignment, acquiring and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Accurate Appraisals.

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

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - at Accurate Appraisals you can rest assured that we abide by that rule.

We demand the highest ethical standards possible from ourselves. Working on orders that contingency fees is not something we can consider 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 probably the appraisal industries biggest no-no, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior as accepting 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 provide an unbiased determination of the home or property value.

When you request an appraisal from Accurate Appraisals we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.