For honest and ethical appraisals, trust Tri-State Appraisal Services, Inc.

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question these days 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.

We have a lot of responsibilities as appraisers but our chief duty is to our clients. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you require a copy of the appraisal document, you generally have to get it from your lender. Other responsibilities also include, accurate sums appropriate to the nature of the assignment, acquiring and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at Tri-State Appraisal Services, Inc..

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is limited 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 rules that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Tri-State Appraisal Services, Inc. you can rest assured that we stick to that rule.

When busy with an appraisal, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional organizations that the 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.

When you engage Tri-State Appraisal Services, Inc. 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.