profile picture

English Spanish

For honest and ethical appraisals, trust P.M. Appraisals, Inc.

Appraising is typically a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to 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. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like to obtain a copy of the appraisal document, you should get it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at P.M. Appraisals, Inc., we take these ethical responsibilities very to heart.

P.M. Appraisals, Inc. provides honest and ethical appraisals for Suffolk County

P.M. Appraisals, Inc. has worked hard for its reputation for completing competent and ethically superior appraisals. To learn more Contact us

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else P.M. Appraisals, Inc. diligently adheres to.

P.M. Appraisals, Inc. holds itself to the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. We don't do assignments on contingency fees. That is, we don'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 perhaps the appraisal professions biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 diligently follow these rules to the letter which means you can be confident we are doing everything we can to objectively determine the home or property value.

With P.M. Appraisals, Inc., you won't have any doubts that you're receiving 100 percent ethical, professional service.