Honesty and Integrity: BB Appraisals, LLC.

Appraising is generally 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. In our field, as with any profession, we have a strict ethical code.

The appraiser's chief obligation is to his or her client. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to review an appraisal report, you generally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at BB Appraisals, LLC., we take these ethical responsibilities very to heart.

Appraisers will often be obligated to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - at BB Appraisals, LLC. you can rest assured that we abide by that rule.

BB Appraisals, LLC. holds itself to the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. Doing orders on contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite appraisal fraud since increasing the value of the home would inflate the their paycheck. We don't do that. Other improper practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics 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.

As soon as you engage BB Appraisals, LLC. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.