Tight & Right Real Estate Valuation upholds the highest professional ethics

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can certainly be called a profession as opposed to a trade. As with any profession we have a strict ethical code.

As appraisers our primary responsibility is to their client. Most of the time, for a typical 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 want to review an appraisal report, you should request it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, attaining and maintaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is is what we do everyday at Tight & Right Real Estate Valuation.

Appraisers may sometimes have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - something else Tight & Right Real Estate Valuation diligently adheres to.

We demand the highest professional integrity possible from ourselves. We never 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. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite fraudulent practices since increasing the estimate of the home would raise the their paycheck. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 be at ease knowing we are doing everything we can to provide an unbiased determination of the home or property value.

When you engage Tight & Right Real Estate Valuation we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.