For honest and ethical appraisals, count on P.M. Appraisals, Inc.
We think of our job as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
We have a lot of responsibilities as appraisers but our chief duty is to our clients. Normally, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to obtain a copy of an appraisal report, you should request it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at P.M. Appraisals, Inc..
P.M. Appraisals, Inc. has an established reputation for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers will frequently be required to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - something else P.M. Appraisals, Inc. diligently adheres to.
We demand the highest professional integrity possible from ourselves. Working on assignments that contingency fees is not something we can consider 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 biggest taboo, because it would invite fraudulent practices since increasing the value of the home would inflate the their paycheck. We don't do that. Other unprofessional practices may be established by state law or professional organizations 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," in addition to 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 won't have any doubts that you're receiving 100 percent ethical, honest service.