For honest and ethical appraisals, rely on Suburban Appraisal Services

Typically, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why 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 have a strict ethical code.

We have many responsibilities as appraisers but first and foremost we answer to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire to review an appraisal report, you normally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, reaching and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is is what we do everyday at Suburban Appraisal Services.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - something else Suburban Appraisal Services makes a part of their standard routine.

When creating reports, we follow the highest ethical standards possible. We never do assignments on contingency fees. That is, we don'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 professions most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other unethical 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 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 diligently 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.

With Suburban Appraisal Services, you won't have any doubts that you're getting 100 percent ethical, professional service.