Elite Appraisals of Ohio maintains the utmost professional ethics

We consider our what we do a profession. The rigors of becoming 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 unquestionably be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.

We have many obligations as appraisers but our main duty is to our clients. Most of the time, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you want a copy of the appraisal document, you should obtain it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Elite Appraisals of Ohio, we take these ethical responsibilities very to heart.

Appraisers will frequently be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Elite Appraisals of Ohio you can rest assured that we adhere to that rule.

We demand the highest ethical standards possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional societies to which an 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 diligently follow these rules to the letter which means you can be assured we are doing everything we can to objectively determine the home or property value.

With Elite Appraisals of Ohio, you can be assured of 100 percent ethical, honest service.