Appraisal Service Co. maintains the utmost professional ethics

We consider our our business a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can definitely be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.

As appraisers our chief responsibility is to their client. 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 data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire a copy of the appraisal document, you should get it through your lender. Other obligations also include, accurate sums appropriate to the scope of the report, acquiring and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Appraisal Service Co..

Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else Appraisal Service Co. takes very seriously.

While busy with an appraisal, we follow the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. 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 perhaps the appraisal professions biggest no-no, because it would invite appraisal fraud since increasing the value of the home would inflate the fee. We don't do that. Other improper practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 Appraisal Service Co., you won't have any doubts that you're getting 100 percent ethical, professional service.