For honest and ethical appraisals, count on Record Appraisal Service

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.

For an appraiser the main responsibility is to his or her client. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to obtain a copy of the appraisal document, you normally have to request it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Record Appraisal Service.

Appraisers will frequently be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - something else Record Appraisal Service takes very seriously.

We require the highest ethical standards possible from ourselves. Doing orders on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. 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 up the value of homes or properties to increase their paycheck. We don't do that. Other unprofessional 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 assured we are working hard to objectively determine the home or property value.

With Record Appraisal Service, you can be assured of 100 percent ethical, professional service.