Honesty and Integrity: Accurate Appraisal Services

We think of our business as a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

We have a lot of obligations as appraisers but our chief duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. 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 want to obtain a copy of an appraisal report, you should get it through your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the report, acquiring and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Accurate Appraisal Services, we take these ethical responsibilities very to heart.

Appraisers can regularly have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll 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.

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

While working on an assignment, we follow the highest ethical standards possible. We never do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. 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 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 rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.

When you engage Accurate Appraisal Services 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.