For honest and ethical appraisals, count on TDF Appraisal

Appraising is generally a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.

As appraisers our chief responsibility is to their client. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire to review the appraisal document, you normally have to obtain it through your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the assignment, acquiring and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at TDF Appraisal, we take these ethical responsibilities very seriously.

Appraisers can also have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - something else TDF Appraisal makes a part of their standard routine.

We meet or beat the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. We never do assignments on contingency fees. 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 probably the appraisal industries biggest taboo, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper 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 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," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.

When you order an appraisal from TDF Appraisal 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.