For honest and ethical appraisals, trust Graham Appraisal

Appraising is typically a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.

The appraiser's chief obligation is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to obtain a copy of the appraisal document, you normally have to request it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Graham Appraisal, we take these ethical responsibilities very seriously.

Graham Appraisal provides honest and ethical appraisals for Barren County

Graham Appraisal has an established track record for performing competent and ethically superior appraisals. Contact us today to learn more.

Appraisers can also have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - something else Graham Appraisal takes very seriously.

When creating reports, we follow the highest ethical standards possible. 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. We can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite appraisal fraud since raising the estimate of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies 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," as well as other situations. We follow these rules to the letter which means you can be assured we are going above and beyond to objectively determine the home or property value.

As soon as you request an appraisal from Graham Appraisal 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.