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

Typically, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have quite a few obligations as appraisers but our main duty is to our clients. Generally, for a normal residential appraisal, 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 want to review an appraisal report, you generally have to request it through your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, reaching and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at P.M. Appraisals, Inc., we take these ethical responsibilities very seriously.

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

P.M. Appraisals, Inc. has worked hard for its reputation for producing appraisals with the highest of ethics. To learn more Contact us

Appraisers may regularly have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.

There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - something else P.M. Appraisals, Inc. makes a part of their standard routine.

We only perform to the highest ethical standards possible. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would invite appraisal fraud since increasing the estimate of the home would inflate the their paycheck. We don't do that. Other unethical practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 follow these rules to the letter which means you can be assured we are doing everything we can to provide an unbiased determination of the home or property value.

With P.M. Appraisals, Inc., you can be assured of 100 percent ethical, professional service.