ATX Appraisals upholds the highest professional ethics

Typically, appraising a long term career. 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 certainly be called a profession rather than a trade. As with any profession we are bound by an ethical code.

For an appraiser the primary obligation is to their client. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to get it through your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the assignment, attaining and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at ATX Appraisals, we take these ethical responsibilities very seriously.

In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. 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 job.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else ATX Appraisals takes very seriously.

ATX Appraisals holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would invite fraudulent practices since raising the estimate of the home would increase the fee. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional societies that the appraiser belongs.

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

When you request an appraisal from ATX Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.