Affordable Appraisal Service maintains the utmost professional ethics

By and large, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can unquestionably 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 primary responsibility is to his or her client. Generally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you would like to review the appraisal document, you should get it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Affordable Appraisal Service, we take these ethical responsibilities very to heart.

Appraisers may also have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is only 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 with whom we share information For example, appraisers must backup their work files for at least five years - at Affordable Appraisal Service you can rest assured that we abide by that rule.

We require the highest ethical standards possible 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 can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite appraisal fraud since raising the estimate of the home would increase the fee. 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 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 be assured we are going above and beyond to provide an unbiased determination of the home or property value.

As soon as you engage Affordable Appraisal Service 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.