Heritage Appraisal Services maintains the highest professional ethics

We think of what we do as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we are bound by ethical considerations.

As appraisers our primary responsibility is to his or her client. Normally, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you desire a copy of the appraisal document, you should get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Heritage Appraisal Services, we take these ethical responsibilities very to heart.

Appraisers can often have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - at Heritage Appraisal Services you can rest assured that we stick to that rule.

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 payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We don't do that. Other unprofessional practices may be established by state law or professional organizations to which an 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 rest easy knowing we are working hard to objectively determine the home or property value.

When you request an appraisal from Heritage Appraisal Services 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.