For honest and ethical appraisals, count on PS Appraisals, Inc.

Appraising is a profession, and appraisers are professionals. 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 certainly be considered a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.

The appraiser's main responsibility is to their client. Generally, in residential practice, 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 would like to review the appraisal document, you should get it from your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the assignment, reaching and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at PS Appraisals, Inc., 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 only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - at PS Appraisals, Inc. you can rest assured that we abide by that rule.

We only perform to the highest ethical standards possible. We never do assignments on contingency fees. That is, we don't 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 appraisal fraud since increasing the value of the home would raise the fee. We set ourselves to a higher standard. Other unprofessional practices may be defined 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 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 diligently follow these rules to the letter which means you can be at ease knowing we are working hard to objectively determine the home or property value.

As soon as you request an appraisal from PS Appraisals, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.