For honest and ethical appraisals, trust Bodine Appraisal Services

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

As appraisers our main responsibility is to their client. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you require to review the appraisal document, you should get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Bodine Appraisal Services.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.

Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - something else Bodine Appraisal Services takes very seriously.

We meet or beat the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. 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 most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," in addition to other situations We follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.

With Bodine Appraisal Services, you can be assured of 100 percent ethical, professional service.