Honesty and Integrity: ABS Appraisal Service, Inc.

Appraising is typically a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.

The appraiser's chief responsibility is to his or her client. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire a copy of the appraisal document, you should get it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at ABS Appraisal Service, Inc., we take these ethical responsibilities very seriously.

Appraisers will regularly be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll 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.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - something else ABS Appraisal Service, Inc. makes a part of their standard routine.

We demand the highest professional integrity possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we are not able to 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 industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We set ourselves to a higher standard. 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 states a violation in ethics 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," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are working hard to objectively determine the home or property value.

With ABS Appraisal Service, Inc., you can be assured of 100 percent ethical, honest service.