Honesty and Integrity: SNB Appraisals, LLC

We consider our our job a profession. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.

For an appraiser the primary obligation is to their client. Generally, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like a copy of the appraisal document, you should obtain it from your lender. Other obligations also include, accurate figures appropriate to the parameters of the report, acquiring and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at SNB Appraisals, LLC, we take these ethical responsibilities very seriously.

Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - something else SNB Appraisals, LLC makes a part of their standard routine.

We only perform to the highest ethical standards possible. Doing orders on contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. 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 estimate of the home would inflate the their paycheck. We don't do that. Other improper practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are working hard to objectively determine the home or property value.

With SNB Appraisals, LLC, you can be assured of 100 percent ethical, honest service.