For honest and ethical appraisals, count on Shire Appraisal

Appraising is a profession, and appraisers are professionals. 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 unquestionably be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

For an appraiser the chief obligation is to their client. Typically, for a standard 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 desire a copy of the appraisal document, you normally have to request it from your lender. Other responsibilities also include, accurate sums appropriate to the nature of the assignment, acquiring and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Shire Appraisal, we take these ethical responsibilities very to heart.

Appraisers will frequently be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - something else Shire Appraisal makes a part of their standard routine.

We demand the highest ethical standards possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since increasing the value of the home would up the fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics as accepting 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 confident we are going above and beyond to provide an unbiased determination of the home or property value.

With Shire Appraisal, you can be assured of 100 percent ethical, honest service.