Honesty and Integrity: JP Appraisals

We think of our job as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.

We have many obligations as appraisers but above everything we answer to our clients. 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 want a copy of an appraisal report, you should request it from your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the report, reaching and sustaining a respectable 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 JP Appraisals.

Appraisers may sometimes have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.

Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - something else JP Appraisals makes a part of their standard routine.

When creating reports, we follow the highest ethical standards possible. Working on orders 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. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite fraudulent practices since increasing the value of the home would increase the fee. We don't do that. Other unprofessional practices may be defined by state law or professional organizations 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," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.

With JP Appraisals, you won't have any doubts that you're getting 100 percent ethical, professional service.