For honest and ethical appraisals, count on Speedy Appraisal Service

We think of what we do as a profession. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. As with any profession we are bound by ethical considerations.

We have a lot of 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 have certain duties of privacy to their clients, and as a homeowner, if you want a copy of an appraisal report, you generally have to request it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Speedy Appraisal Service, we take these ethical responsibilities very to heart.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else Speedy Appraisal Service diligently adheres to.

We demand the highest professional integrity possible from ourselves. We never do assignments on contingency fees. 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 probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the estimate of the home would increase the fee. We don't do that. Other unprofessional practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," as well as other situations. We follow these rules to the letter which means you can be confident we are doing everything we can to objectively determine the home or property value.

As soon as you engage Speedy Appraisal Service 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.