For honest and ethical appraisals, rely on Brumfield Realty & Appraisal Service

Generally, appraising a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.

An appraiser's main obligation is to their client. Most of the time, in residential practice, 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 want to obtain a copy of an appraisal report, you should get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Brumfield Realty & Appraisal Service, we take these ethical responsibilities very to heart.

Appraisers may also have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those 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 standards outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - something else Brumfield Realty & Appraisal Service diligently adheres to.

When working on an assignment, we follow the highest ethical standards possible. Working on orders that contingency fees is not something we can consider 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 perhaps the appraisal professions biggest no-no, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be established 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 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 diligently follow these rules to the letter which means you can be assured we are doing everything we can to objectively determine the home or property value.

With Brumfield Realty & Appraisal Service, you won't have any doubts that you're receiving 100 percent ethical, professional service.