Keys Appraisal Service maintains the utmost professional ethics

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be called a profession as opposed to a trade. As with any profession we are bound by an ethical code.

We have many obligations as appraisers but above everything we answer to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. 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 an appraisal report, you should get it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Keys Appraisal Service, we take these ethical responsibilities very to heart.

Appraisers can also have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll 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 at least five years - something else Keys Appraisal Service makes a part of their standard routine.

While working on an appraisal, we follow the highest ethical standards possible. Working on assignments that contingency fees is never an option. 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 perhaps the appraisal industries most important rule, because it would invite fraudulent practices since increasing the estimate of the home would inflate the their paycheck. We don't do that. 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 defines unethical behavior 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 working hard to objectively determine the home or property value.

As soon as you engage Keys Appraisal Service 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.