For honest and ethical appraisals, trust SK Real Estate Appraisals

We consider our our job a profession. Requirements to become a licensed appraiser have increased more than ever before. So 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 must follow strict ethical considerations.

An appraiser's main obligation is to his or her client. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you require to obtain a copy of the appraisal document, you should get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and keeping a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at SK Real Estate Appraisals, we take these ethical responsibilities very seriously.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - something else SK Real Estate Appraisals makes a part of their standard routine.

We require the highest ethical standards possible 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 get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite appraisal fraud since raising the value of the home would inflate the their paycheck. 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 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," in addition to other situations We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.

With SK Real Estate Appraisals, you can be assured of 100 percent ethical, honest service.