For honest and ethical appraisals, trust EM Appraisal Services

We consider our our business a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have quite a few responsibilities as appraisers but first and foremost we answer to our clients. Typically, for a regular residential appraisal, 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 generally have to get it from your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the assignment, reaching and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at EM Appraisal Services, we take these ethical responsibilities very seriously.

Appraisers will sometimes need to consider the interests of 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 responsibility is restricted to those third parties who the appraiser knows, 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 backup their work files for a minimum of five years - at EM Appraisal Services you can rest assured that we stick to that rule.

When working on an appraisal, we follow the highest ethical standards possible. We never do assignments on contingency fees. That is, we can'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 no-no, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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.

When you engage EM Appraisal Services 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.