James Earp Appraisal Service upholds the highest professional ethics

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we are bound by ethical considerations.

We have quite a few responsibilities as appraisers but our primary duty is to our clients. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you require a copy of the appraisal document, you generally have to get it from your lender. Other obligations also include, accurate sums appropriate to the scope of the report, acquiring and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at James Earp Appraisal Service, we take these ethical responsibilities very seriously.

James Earp Appraisal Service provides honest and ethical appraisals for Wake County

James Earp Appraisal Service has worked hard for its track record for performing competent and ethically superior appraisals. To learn more Contact us

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else James Earp Appraisal Service diligently adheres to.

We meet or beat the industry standards and rules set in place for ethics. We won't accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers inflate 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 societies 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," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.

When you engage James Earp Appraisal Service we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.