Fairview Appraisals upholds the highest professional ethics

We think of what we do as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.

For an appraiser the main obligation 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 information, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire to review the appraisal document, you generally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Fairview Appraisals, we take these ethical responsibilities very to heart.

Appraisers will frequently be required to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Fairview Appraisals you can rest assured that we adhere to that rule.

When busy with an appraisal, we follow the highest ethical standards possible. We don't 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 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 societies to which an 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," in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value.

As soon as you order an appraisal from Fairview Appraisals 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.