Our primary duty as appraisers is to our clients. Normally, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire a copy of the appraisal document, you should obtain it from your lender. Other responsibilities include: numerical accuracy, reaching and maintaining a certain level of competency and education, and conducting oneself as a professional. Here at Preferred Appraisal Services, we take these ethical responsibilities very seriously.

Appraisers may also have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

Another practice that's restricted is doing assignments on percentage fees. We don't agree to do an appraisal report and get paid only if the loan closes. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that.

The Uniform Standards of Professional Appraisal Practice (USPAP) 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 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 Preferred Appraisal Services, you can be assured of 100% ethical, professional service.