Honesty and Integrity: A.R.C. Appraisal Inc.

We consider our our job a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we are bound by an ethical code.

For an appraiser the chief obligation is to his or her client. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. 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 want a copy of the appraisal document, you generally have to get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and maintaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at A.R.C. Appraisal Inc..

Appraisers can frequently have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - at A.R.C. Appraisal Inc. you can rest assured that we stick to that rule.

While working on an appraisal, we follow the highest ethical standards possible. Working on orders that 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. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite appraisal fraud since increasing the estimate of the home would raise the fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," in addition to other situations We follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.

When you order an appraisal from A.R.C. 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.