For honest and ethical appraisals, trust Appraisals (301) 353-9439

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

The appraiser's main obligation is to his or her client. Most of the time, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you want to review the appraisal document, you normally have to request it through your lender. Other responsibilities also include, accurate figures appropriate to the nature of the assignment, reaching and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Appraisals (301) 353-9439, we take these ethical responsibilities very to heart.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Appraisals (301) 353-9439 makes a part of their standard routine.

We demand the highest ethical standards possible from ourselves. Working on orders that contingency fees is never an option. That is, we can'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 invite appraisal fraud since increasing the estimate of the home would inflate the their paycheck. We don't do that. Other unprofessional practices may be defined by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," in addition to other situations We follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value.

With Appraisals (301) 353-9439, you won't have any doubts that you're receiving 100 percent ethical, professional service.