Honesty and Integrity: Clearpoint Appraisals LLC

Typically, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we are bound by ethical considerations.

For an appraiser the main obligation is to their client. More often than not, for a normal 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 desire a copy of the appraisal document, you normally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Clearpoint Appraisals LLC, we take these ethical responsibilities very to heart.

In some cases appraisers will have fiduciary responsibilities to 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 duty is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical rules 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 Clearpoint Appraisals LLC diligently adheres to.

While busy with an appraisal, we follow the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we don'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 up the fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior as accepting 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 follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.

As soon as you order an appraisal from Clearpoint Appraisals LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.