PT Appraisal Services, LLC upholds the highest professional ethics

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be considered 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. More often than not, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you desire a copy of an appraisal report, you generally have to request it through your lender. Other responsibilities also include, accurate figures appropriate to the scope of the report, acquiring and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at PT Appraisal Services, LLC, we take these ethical responsibilities very seriously.

Appraisers can sometimes have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at PT Appraisal Services, LLC you can rest assured that we adhere to that rule.

PT Appraisal Services, LLC holds itself to the industry standards and mandates set in place for professional behavior. We can't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite fraudulent practices since increasing the value of the home would increase the fee. We don't do that. 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," in addition to other situations We 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.

As soon as you order an appraisal from PT Appraisal Services, LLC 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.