For honest and ethical appraisals, count on Appraisals By Schwartz

Typically, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

We have a lot of responsibilities as appraisers but above everything we answer to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to review an appraisal report, you generally have to get it from your lender. Other obligations also include, accurate sums appropriate to the scope of the report, attaining and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Appraisals By Schwartz.

Appraisers may sometimes have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll is restricted 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 - at Appraisals By Schwartz you can rest assured that we abide by that rule.

When working on an order, we follow the highest ethical standards possible. Doing orders on contingency fees is not something we can consider 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 perhaps 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 improper 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," as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are working hard to objectively determine the home or property value.

As soon as you order an appraisal from Appraisals By Schwartz we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.