Honesty and Integrity: Property Appraisals & Research, Inc. (941) 400-8856

Appraising is a profession, and appraisers are professionals. 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 unquestionably be dubbed a profession rather than a trade. As with any profession we are bound by an ethical code.

We have a great deal of obligations as appraisers but first and foremost we answer to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like to review an appraisal report, you generally have to get it from your lender. Other obligations also include, accurate calculations appropriate to the scope of the assignment, attaining and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Property Appraisals & Research, Inc. (941) 400-8856, we take these ethical responsibilities very to heart.

Appraisers will often be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is limited 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 store their work files for at least five years - something else Property Appraisals & Research, Inc. (941) 400-8856 diligently adheres to.

We only perform to 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 payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional organizations 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," as well as other situations. We follow these rules to the letter which means you can be assured we are going above and beyond to objectively determine the home or property value.

With Property Appraisals & Research, Inc. (941) 400-8856, you won't have any doubts that you're receiving 100 percent ethical, professional service.