Appraisals Inc. Residential Company provides honest and ethical appraisals for Lake County

For honest and ethical appraisals, count on Appraisals Inc. Residential Company

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 unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

We have a great deal of obligations as appraisers, but first and foremost we answer to our clients. More often than not, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence. Consequently, appraisers are typically limited to only disclosing information to their clients, so as a homeowner, if you would like a copy of an appraisal report, you normally have to obtain it from your lender and not the appraiser.

Other responsibilities include accurate calculations appropriate to the nature of the assignment, acquiring and maintaining a certain level of competency and education, and naturally, the appraiser must bear a professional demeanor. Maintaining high ethics is standard operating procedure for us at Appraisals Inc. Residential Company.

Appraisers will often be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is limited to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.


	Appraisals Inc. Residential Company has worked hard for its track record for providing appraisals with the highest of ethics. Contact us today to learn more.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - something else Appraisals Inc. Residential Company makes a part of their standard routine.

Appraisals Inc. Residential Company holds itself to the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. Doing orders where our fee is dependent on our value conclusion is not something we can consider. That is, we can't agree to do an appraisal report and get paid only if the loan closes. Anyone should be able to see that inflating a value to achieve what amounts to a bigger paycheck is unethical! We set ourselves to a higher standard.

Finally, the Uniform Standards of Professional Appraisal Practice (or simply "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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.

With Appraisals Inc. Residential Company, you can be assured of 100 percent ethical, honest service.