For honest and ethical appraisals, count on Palmetto Valuation Services

Appraising is a profession, and appraisers are professionals. The rigors of becoming 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 called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

As appraisers our primary obligation is to their client. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like a copy of an appraisal report, you should get it from your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the report, acquiring and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Palmetto Valuation Services.

Appraisers can also have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else Palmetto Valuation Services makes a part of their standard routine.

We demand the highest professional integrity possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the value of the home would up the their paycheck. We don't do that. Other improper practices may be established by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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 diligently follow these rules to the letter which means you can be assured we are going above and beyond to objectively determine the home or property value.

As soon as you order an appraisal from Palmetto Valuation Services 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.