For honest and ethical appraisals, count on Chisholm Trail Appraisal Services, LLC

Typically, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we have a strict ethical code.

We have quite a few responsibilities as appraisers but our primary 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 would like to obtain a copy of the appraisal document, you normally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, attaining and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Chisholm Trail Appraisal Services, LLC, we take these ethical responsibilities very to heart.

Appraisers can sometimes have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Chisholm Trail Appraisal Services, LLC makes a part of their standard routine.

When busy with an appraisal, we follow the highest ethical standards possible. Working on assignments that contingency fees is never an option. That is, we are not able to 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 most important rule, because it would invite fraudulent practices since raising the value of the home would up the fee. We don't do that. Other unethical practices may be established by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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 rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.

When you engage Chisholm Trail 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.