For honest and ethical appraisals, count on Advantage Express, LLC

Appraising is a profession, and appraisers are professionals. Requirements to become 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 called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

For an appraiser the chief obligation is to their client. Generally, in residential practice, 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 a copy of an appraisal report, you should request it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Advantage Express, LLC, we take these ethical responsibilities very seriously.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are explicitly 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 things in the framework of the job.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - at Advantage Express, LLC you can rest assured that we stick to that rule.

We only perform to the highest ethical standards possible. Doing orders on contingency fees is not something we can consider That is, we are not able to 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 biggest taboo, because it would invite appraisal fraud since raising the estimate of the home would inflate the fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional organizations 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," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are doing everything we can to objectively determine the home or property value.

As soon as you engage Advantage Express, 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.