Honesty and Integrity: Reliance Appraisal LLC

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 definitely be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

For an appraiser the main responsibility is to his or her client. More often than not, 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 would like to obtain a copy of an appraisal report, you should get it through your lender. Other responsibilities also include, accurate calculations appropriate to the nature of the report, reaching and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Reliance Appraisal LLC, we take these ethical responsibilities very to heart.

Appraisers may sometimes have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is limited to those third 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 Reliance Appraisal LLC makes a part of their standard routine.

We meet or beat the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. Working on orders 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 can't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We don't do that. 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 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 confident we are doing everything we can to provide an unbiased determination of the home or property value.

When you order an appraisal from Reliance Appraisal LLC 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.