Colorado Market Appraisal LLC upholds the utmost professional ethics

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

An appraiser's primary responsibility is to their client. Typically, 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 to review an appraisal report, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Colorado Market Appraisal LLC.

Appraisers can often have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Generally the third parties are explicitly 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 written parameters of the order.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else Colorado Market Appraisal LLC makes a part of their standard routine.

We demand the highest professional integrity possible from ourselves. Working on assignments that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would invite fraudulent practices since raising the value of the home would inflate the fee. We don't do that. 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 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 diligently follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value.

With Colorado Market Appraisal LLC, you can be assured of 100 percent ethical, professional service.