For honest and ethical appraisals, rely on Parrish & Associates

Generally, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.

For an appraiser the main obligation is to their client. Normally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like to review the appraisal document, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, reaching and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Parrish & Associates, we take these ethical responsibilities very seriously.

Appraisers will frequently need to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted 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 a minimum of five years - something else Parrish & Associates diligently adheres to.

When creating reports, we follow the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we don't 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 perhaps the appraisal industries most important rule, because it would invite fraudulent practices since increasing the value of the home would raise the their paycheck. We don't do that. Other improper practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," 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 provide an unbiased determination of the home or property value.

As soon as you request an appraisal from Parrish & Associates 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.