Crest Appraisal Services upholds the highest professional ethics

We think of what we do as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.

We have many responsibilities as appraisers but above everything we answer to our clients. Normally, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you desire to obtain a copy of an appraisal report, you should get it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is is what we do everyday at Crest Appraisal Services.

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

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - at Crest Appraisal Services you can rest assured that we adhere to that rule.

We only perform to the highest ethical standards possible. We don't do assignments on contingency fees. That is, we don'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 probably the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are working hard to objectively determine the home or property value.

When you request an appraisal from Crest Appraisal Services 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.