Davis Appraisal, LLC upholds the highest professional ethics

We think of what we do as a profession. The rigors of becoming 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 certainly be dubbed a profession rather than a trade. As with any profession we are bound by an ethical code.

An appraiser's main responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire to review the appraisal document, you should get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Davis Appraisal, LLC, we take these ethical responsibilities very to heart.

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

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - at Davis Appraisal, LLC you can rest assured that we abide by that rule.

When creating reports, we follow the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we don't 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 probably the appraisal industries most important rule, because it would invite fraudulent practices since raising the estimate of the home would inflate the their paycheck. We don't do that. Other unethical practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," as well as other situations. We 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 Davis Appraisal, LLC, you won't have any doubts that you're receiving 100 percent ethical, honest service.