For honest and ethical appraisals, count on Teal Appraisal Services

By and large, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have a lot of obligations as appraisers but first and foremost we answer to our clients. Most of the time, for a regular 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 to obtain a copy of the appraisal document, you generally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Teal Appraisal Services.

Appraisers can frequently have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - something else Teal Appraisal Services takes very seriously.

We only perform to the highest ethical standards possible. We don't 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. We don't do assignments on percentage fees. That is probably the appraisal industries biggest taboo, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We don't do that. 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 states 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 assured we are working hard to provide an unbiased determination of the home or property value.

With Teal Appraisal Services, you can be assured of 100 percent ethical, honest service.