For honest and ethical appraisals, count on JC Appraisals, LLC

We think of our business as a profession. Requirements to become a licensed appraiser have become more difficult than ever before. 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 ethical considerations.

An appraiser's chief obligation is to their client. Typically, for a normal residential appraisal, 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 require to obtain a copy of an appraisal report, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, acquiring and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at JC Appraisals, we take these ethical responsibilities very to heart.

Appraisers will regularly be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, 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 keep their work files for at least five years - something else JC Appraisals, LLC diligently adheres to.

JC Appraisals holds itself to the industry standards and rules set in place for ethics. We can't accept anything less from ourselves. Working on assignments that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We don't do that. Other unprofessional practices may be defined by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," in addition to other situations We diligently 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.

When you order an appraisal from JC Appraisals, LLC we'll make sure you're getting the professional service you expect along with an ethical approach with appraisals that we're known for.