Appalachian Appraisal maintains the utmost professional ethics

Appraising is generally a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we have a strict ethical code.

We have a great deal of responsibilities as appraisers but our primary duty is to our clients. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require a copy of an appraisal report, you normally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Appalachian Appraisal, we take these ethical responsibilities very to heart.

Appraisers will regularly need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Appalachian Appraisal takes very seriously.

While working on an assignment, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we don'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 probably the appraisal professions most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other unprofessional practices may be established by state law or professional societies 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 follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.

With Appalachian Appraisal, you can be assured of 100 percent ethical, professional service.