For honest and ethical appraisals, count on Nature Coast Home Appraisals

Appraising is, by and large, a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we are bound by an ethical code.

The appraiser's main responsibility is to their client. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require to review the appraisal document, you should get it from your lender. Other obligations also include, numerical accuracy depending on 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 Nature Coast Home Appraisals, we take these ethical responsibilities very seriously.

Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else Nature Coast Home Appraisals makes a part of their standard routine.

We only perform to the highest ethical standards possible. Working on orders that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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," as well as other situations. We follow these rules to the letter which means you can be assured we are going above and beyond to objectively determine the home or property value.

When you engage Nature Coast Home Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.