Texas Appraisal Shop upholds the utmost professional ethics

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.

We have quite a few obligations as appraisers but first and foremost we answer to our clients. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to obtain a copy of an appraisal report, you generally have to get it through your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, acquiring and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is standard operating procedure for us at Texas Appraisal Shop.

Appraisers will frequently need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.

Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must store their work files for at least five years - at Texas Appraisal Shop you can rest assured that we adhere to that rule.

When creating reports, we follow the highest ethical standards possible. Working on orders that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would invite fraudulent practices since increasing the value of the home would increase the fee. We don't do that. Other unethical practices may be established by state law or professional organizations 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," as well as other situations. We diligently follow these rules to the letter which means you can be assured we are doing everything we can to provide an unbiased determination of the home or property value.

With Texas Appraisal Shop, you can be assured of 100 percent ethical, professional service.