Appraisal First LLC maintains the highest professional ethics

Appraising is typically a long term career. 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 definitely be dubbed a profession as opposed to a trade. As with any profession we are bound by an ethical code.

For an appraiser the primary responsibility is to their client. Normally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to obtain a copy of the appraisal document, you normally have to request it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Appraisal First LLC, we take these ethical responsibilities very to heart.

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

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - something else Appraisal First LLC makes a part of their standard routine.

We require the highest professional integrity possible from ourselves. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid 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 raise the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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 objectively determine the home or property value.

As soon as you engage Appraisal First LLC 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.