Honesty and Integrity: Northern Arizona Appraisal, Inc.

We consider our what we do a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

We have many obligations as appraisers but our main duty is to our clients. Typically, for a regular 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 desire a copy of the appraisal document, you normally have to request it from your lender. Other obligations also include, accurate calculations appropriate to the nature of the assignment, attaining and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Northern Arizona Appraisal, Inc., we take these ethical responsibilities very to heart.

Appraisers can also have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll is limited to those third 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 a minimum of five years - something else Northern Arizona Appraisal, Inc. diligently adheres to.

While working on an appraisal, we follow the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would invite appraisal fraud since raising the estimate of the home would up the 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 states 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 follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.

As soon as you order an appraisal from Northern Arizona Appraisal, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.