Elite Appraisals upholds the utmost professional ethics

We consider our what we do 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 called a profession rather than a trade. As with any profession we are bound by an ethical code.

We have quite a few responsibilities as appraisers but first and foremost we answer to our clients. More often than not, 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 review an appraisal report, you should get it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is standard operating procedure for us at Elite Appraisals.

Appraisers will regularly be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - at Elite Appraisals you can rest assured that we abide by that rule.

We only perform to the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be defined 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 working hard to objectively determine the home or property value.

As soon as you order an appraisal from Elite Appraisals 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.