For honest and ethical appraisals, trust Colorado Appraisal Co

Appraising is typically a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we are bound by an ethical code.

For an appraiser the primary responsibility is to his or her client. Generally, in residential practice, 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 desire a copy of the appraisal document, you normally have to get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Colorado Appraisal Co, we take these ethical responsibilities very to heart.

Appraisers can regularly have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - something else Colorado Appraisal Co diligently adheres to.

We meet or beat the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. Working on assignments that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since increasing the value of the home would inflate the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 be at ease knowing we are going above and beyond to objectively determine the home or property value.

With Colorado Appraisal Co, you can be assured of 100 percent ethical, professional service.