For honest and ethical appraisals, count on Neighborhood Appraisals (510) 793-5176

We consider our our job a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we have a strict ethical code.

For an appraiser the chief 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 are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire to obtain a copy of an appraisal report, you normally have to get it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at Neighborhood Appraisals (510) 793-5176.

Appraisers can sometimes have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is limited to those 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 standards outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - at Neighborhood Appraisals (510) 793-5176 you can rest assured that we abide by that rule.

When busy with an appraisal, we follow the highest ethical standards possible. Doing assignments on contingency fees is not something we can consider That is, we are not able to 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 probably the appraisal professions 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 unethical 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to objectively determine the home or property value.

When you engage Neighborhood Appraisals (510) 793-5176 we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.