ACE APPRAISERS, LLC upholds the highest professional ethics

Appraising is typically a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

For an appraiser the chief obligation is to their client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. 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 require to obtain a copy of an appraisal report, you should get it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at ACE APPRAISERS, LLC, we take these ethical responsibilities very to heart.

Appraisers will sometimes need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else ACE APPRAISERS, LLC makes a part of their standard routine.

We require the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can't 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 probably the appraisal industries biggest no-no, because it would invite appraisal fraud since raising the value of the home would increase the fee. We don't do that. Other unethical practices may be defined by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," as well as other situations. We follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.

As soon as you engage ACE APPRAISERS, 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.