Honesty and Integrity: Northern Appraisal Services

By and large, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

As appraisers our primary responsibility is to their client. Typically, for a regular residential appraisal, 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 would like to review an appraisal report, you should get it through your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the report, acquiring and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Northern Appraisal Services, we take these ethical responsibilities very seriously.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Northern Appraisal Services diligently adheres to.

We only perform to the highest ethical standards possible. Doing assignments on contingency fees is not something we can consider That is, we are not able to 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 perhaps the appraisal professions most important rule, because it would invite fraudulent practices since increasing the value of the home would inflate the fee. We don't do that. Other improper practices may be defined 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 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," in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.

As soon as you engage Northern 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.