For honest and ethical appraisals, count on Precision Appraisals, LLC

We consider our our job a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So 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 have a strict ethical code.

As appraisers our primary responsibility is to his or her client. More often than not, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you desire to obtain a copy of an appraisal report, you should obtain it from your lender. Other obligations also include, accurate figures appropriate to the scope of the report, reaching and maintaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is is what we do everyday at Precision Appraisals, LLC.

Appraisers may regularly have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - at Precision Appraisals, LLC you can rest assured that we adhere to that rule.

Precision Appraisals, LLC holds itself to the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite appraisal fraud since increasing the value of the home would inflate the fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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 assured we are doing everything we can to objectively determine the home or property value.

With Precision Appraisals, LLC, you can be assured of 100 percent ethical, professional service.