Honesty and Integrity: Graham Appraisal Service

We think of our business as a profession. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.

We have quite a few responsibilities as appraisers but our chief duty is to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you require a copy of the appraisal document, you normally have to request it through your lender. Other obligations also include, accurate figures appropriate to the scope of the assignment, reaching and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Graham Appraisal Service, we take these ethical responsibilities very to heart.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is only 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 rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else Graham Appraisal Service takes very seriously.

While working on an appraisal, we follow the highest ethical standards possible. We never do assignments on contingency fees. That is, we are not able to 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 no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 follow these rules to the letter which means you can be assured we are going above and beyond to provide an unbiased determination of the home or property value.

With Graham Appraisal Service, you can be assured of 100 percent ethical, honest service.