For honest and ethical appraisals, count on First Class Appraisal

Generally, appraising a long term career. 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 definitely be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

An appraiser's main responsibility is to their client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to review the appraisal document, you should get it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, acquiring and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at First Class Appraisal, we take these ethical responsibilities very seriously.

Appraisers will often be obligated to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - something else First Class Appraisal diligently adheres to.

We demand the highest professional integrity possible from ourselves. Doing orders on contingency fees is not something we can consider That is, we are not able to 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 taboo, because it would invite appraisal fraud since increasing the estimate of the home would raise the their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.

With First Class Appraisal, you can be assured of 100 percent ethical, honest service.