Honesty and Integrity: Pelman Appraisal Services (251) 895-1787

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we have a strict ethical code.

We have quite a few obligations 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. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you desire to review an appraisal report, you should get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Pelman Appraisal Services (251) 895-1787, we take these ethical responsibilities very to heart.

Appraisers will often be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - something else Pelman Appraisal Services (251) 895-1787 diligently adheres to.

We only perform to the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers up the value of homes or properties to increase their fee. We don't do that. 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 states 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 at ease knowing we are working hard to provide an unbiased determination of the home or property value.

As soon as you engage Pelman Appraisal Services (251) 895-1787 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.