Honesty and Integrity: Statewide Residential Appraisal, LLC.

Generally, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.

We have many responsibilities as appraisers but our main duty is to our clients. Normally, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you would like a copy of an appraisal report, you normally have to get it from your lender. Other obligations also include, accurate sums appropriate to the scope of the assignment, reaching and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Statewide Residential Appraisal, LLC..

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is limited 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 standards outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - something else Statewide Residential Appraisal, LLC. takes very seriously.

While busy with an appraisal, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we can't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be defined by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics 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 going above and beyond to objectively determine the home or property value.

With Statewide Residential Appraisal, LLC., you can be assured of 100 percent ethical, professional service.