For honest and ethical appraisals, count on KD Appraisals

Typically, appraising 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 definitely be dubbed a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

We have quite a few obligations as appraisers but first and foremost we answer to our clients. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you require a copy of an appraisal report, you normally have to get it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, reaching and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is just normal course of business for us at KD Appraisals.

Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - something else KD Appraisals takes very seriously.

KD Appraisals holds itself to the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can'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 most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be established by state law or professional societies that the 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value.

When you request an appraisal from KD Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.