Honesty and Integrity: L & J Appraisal Co., LLCWe think of what we do as a profession. Requirements to become 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 definitely be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations. For an appraiser the main responsibility is to his or her client. More often than not, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you require to obtain a copy of the appraisal document, you normally have to request it through your lender. Other responsibilities also include, accurate figures appropriate to the nature of the assignment, attaining and maintaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at L & J Appraisal Co., LLC, we take these ethical responsibilities very to heart. L & J Appraisal Co., LLC has an established track record for providing competent and ethically superior appraisals. To learn more Contact us In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job. There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else L & J Appraisal Co., LLC takes very seriously. We demand the highest ethical standards possible from ourselves. We don't 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. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers up the value of homes or properties to increase 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 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 confident we are working hard to provide an unbiased determination of the home or property value. With L & J Appraisal Co., LLC, you won't have any doubts that you're receiving 100 percent ethical, honest service. |