B & B Appraisal Service maintains the highest professional ethics

By and large, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be dubbed a profession rather than a trade. As with any profession we are bound by ethical considerations.

We have many responsibilities as appraisers but our chief duty is to our clients. Typically, 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 would like to obtain a copy of the appraisal document, you generally have to request it through your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the report, 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 B & B Appraisal Service.

Appraisers will sometimes be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - at B & B Appraisal Service you can rest assured that we stick to that rule.

We only perform to the highest ethical standards possible. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid 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 tend to make appraisers up the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be established by state law or professional organizations 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," in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value.

As soon as you order an appraisal from B & B Appraisal Service we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.