Select Appraisals, LLC maintains the highest professional ethics

We think of our business as a profession. The rigors of becoming 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 considered a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.

As appraisers our main obligation is to their client. More often than not, for a standard residential appraisal, 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 desire to obtain a copy of an appraisal report, you normally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is is what we do everyday at Select Appraisals, LLC.

Appraisers may regularly have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else Select Appraisals, LLC makes a part of their standard routine.

We require the highest ethical standards possible from ourselves. We never do assignments on contingency fees. 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 probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the estimate of the home would up the fee. We set ourselves to a higher standard. Other improper 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 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 follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.

With Select Appraisals, LLC, you won't have any doubts that you're receiving 100 percent ethical, honest service.