Honesty and Integrity: BB APPRAISAL SERVICES

Generally, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.

We have quite a few obligations as appraisers but first and foremost we answer to our clients. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you require to obtain a copy of an appraisal report, you should request it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at BB APPRAISAL SERVICES, we take these ethical responsibilities very seriously.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, 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 job.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - at BB APPRAISAL SERVICES you can rest assured that we abide by that rule.

We only perform to the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we are not able to 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 perhaps the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be established by state law or professional organizations that the 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," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.

As soon as you order an appraisal from BB APPRAISAL SERVICES we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.