Honesty and Integrity: Landmark Appraisal Services, Inc.

Appraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.

We have a great deal of obligations as appraisers but first and foremost we answer to our clients. Most of the time, for a standard 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 would like to review an appraisal report, you generally have to obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Landmark Appraisal Services, Inc., we take these ethical responsibilities very to heart.

Appraisers will frequently be obligated to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - at Landmark Appraisal Services, Inc. you can rest assured that we stick to that rule.

We only perform to the highest ethical standards possible. Working on assignments that contingency fees is never an option. That is, we are not able to 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 perhaps the appraisal professions biggest no-no, because it would invite fraudulent practices since increasing the value of the home would up the their paycheck. We set ourselves to a higher standard. Other unprofessional 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 engage Landmark Appraisal Services, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.