Professional Appraisals maintains the utmost professional ethics

We consider our our business a profession. The rigors of becoming 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 considered a profession as opposed to a trade. As with any profession we are bound by an ethical code.

We have many obligations as appraisers but our primary duty is to our clients. 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 the appraisal document, you should get it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the assignment, reaching and maintaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Professional Appraisals, we take these ethical responsibilities very seriously.

Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is limited 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 duties that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - something else Professional Appraisals diligently adheres to.

Professional Appraisals holds itself to the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. We have a responsibility not to 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 don't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers up 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 to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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 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 Professional Appraisals, you can be assured of 100 percent ethical, professional service.