Honesty and Integrity: North East Appraisal, Inc

Generally, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession as opposed to 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. Most of the time, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you require a copy of the appraisal document, you should get it from your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the assignment, acquiring and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at North East Appraisal, Inc, we take these ethical responsibilities very to heart.

Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - at North East Appraisal, Inc you can rest assured that we adhere to that rule.

While busy with an appraisal, we follow the highest ethical standards possible. Working on orders that contingency fees is not something we can consider That is, we are not able to 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 professions most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We don't do that. Other improper 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 diligently follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.

When you order an appraisal from North East Appraisal, Inc 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.