Catt Appraisal maintains the utmost professional ethics

Appraising is typically a long term career. Requirements to become 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. In our field, as with any profession, we are bound by ethical considerations.

For an appraiser the primary responsibility is to their client. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you would like a copy of an appraisal report, you normally have to obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, reaching and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Catt Appraisal, we take these ethical responsibilities very to heart.

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

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - something else Catt Appraisal diligently adheres to.

When creating reports, we follow the highest ethical standards possible. Working on assignments that 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 industries biggest no-no, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 be assured we are working hard to provide an unbiased determination of the home or property value.

With Catt Appraisal, you can be assured of 100 percent ethical, honest service.