Honesty and Integrity: Black River Appraisal, LLC

We consider our our business a profession. 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 rather than a trade. In our field, as with any profession, we are bound by an ethical code.

We have many obligations as appraisers but first and foremost we answer to our clients. 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 require to review the appraisal document, you generally have to get it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Black River Appraisal, LLC, we take these ethical responsibilities very seriously.

Appraisers will sometimes be required to consider the interests of 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 limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

Appraisers also have duties 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 Black River Appraisal, LLC takes very seriously.

Black River Appraisal, LLC holds itself to the industry standards and rules set in place for ethics. We can't accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we can't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be defined 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," in addition to other situations We 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.

With Black River Appraisal, LLC, you won't have any doubts that you're getting 100 percent ethical, professional service.