Honesty and Integrity: Coconino Appraisal Service

We consider our what we do a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

We have a great deal of responsibilities as appraisers but our primary duty is to our clients. Generally, 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 normally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, attaining 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 is what we do everyday at Coconino Appraisal Service.

Appraisers can also have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.

Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - at Coconino Appraisal Service you can rest assured that we adhere to that rule.

When working on an appraisal, we follow the highest ethical standards possible. Doing assignments on contingency fees is never an option. 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 probably the appraisal industries biggest no-no, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 at ease knowing we are working hard to provide an unbiased determination of the home or property value.

When you request an appraisal from Coconino Appraisal Service we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.