Hometown Appraisals & Realty upholds the highest professional ethics

Typically, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

For an appraiser the primary responsibility is to his or her client. Generally, 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 an appraisal report, you should get it through your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the assignment, attaining and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Hometown Appraisals & Realty, we take these ethical responsibilities very to heart.

Appraisers may often have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - something else Hometown Appraisals & Realty makes a part of their standard routine.

While working on an order, we follow the highest ethical standards possible. Working on orders that contingency fees is never an option. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would invite appraisal fraud since raising the value of the home would increase the fee. We don't do that. Other improper practices may be defined 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," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.

When you order an appraisal from Hometown Appraisals & Realty we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.