For honest and ethical appraisals, count on The Coleman Company

Appraising is generally a long term career. Requirements to become a licensed appraiser have increased more 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 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 responsibilities as appraisers but our primary duty is to our clients. Most of the time, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you require to obtain a copy of the appraisal document, you generally have to get it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, reaching and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at The Coleman Company, we take these ethical responsibilities very to heart.

Appraisers will regularly need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - something else The Coleman Company takes very seriously.

We require the highest ethical standards possible from ourselves. Doing assignments on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since increasing the estimate of the home would raise the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations 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 at ease knowing we are going above and beyond to objectively determine the home or property value.

When you engage The Coleman Company we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.