For honest and ethical appraisals, count on James Earp Appraisal Service

We consider our our business a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.

For an appraiser the primary responsibility is to his or her 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 want a copy of the appraisal document, you normally have to obtain it through your lender. Other responsibilities also include, accurate calculations appropriate to the nature of the report, acquiring and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at James Earp Appraisal Service, we take these ethical responsibilities very seriously.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is restricted 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 standards that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - something else James Earp Appraisal Service diligently adheres to.

We demand the highest ethical standards possible from ourselves. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 working hard to objectively determine the home or property value.

With James Earp Appraisal Service, you can be assured of 100 percent ethical, professional service.