Honesty and Integrity: Blanchette Appraisal Inc

Appraising is a profession, and appraisers are professionals. 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 as opposed to a trade. As with any profession we must follow strict ethical considerations.

As appraisers our main responsibility is to their client. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you would like to review the appraisal document, you should obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is is what we do everyday at Blanchette Appraisal Inc.

Appraisers will regularly be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is restricted 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 duties that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else Blanchette Appraisal Inc makes a part of their standard routine.

While working on an appraisal, we follow the highest ethical standards possible. Working on orders that 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. We can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite appraisal fraud since increasing the value of the home would inflate the fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 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 Blanchette Appraisal Inc we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.