For honest and ethical appraisals, rely on Owen Appraisal Service LLC

We think of what we do as a profession. 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 definitely be considered a profession rather than a trade. As with any profession we are bound by ethical considerations.

An appraiser's primary responsibility is to their client. Typically, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like to review the appraisal document, you normally have to get it through your lender. Other obligations also include, accurate figures appropriate to the scope of the report, acquiring and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Owen Appraisal Service LLC, we take these ethical responsibilities very to heart.

Appraisers will sometimes be obligated to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

Appraisers also have rules 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 Owen Appraisal Service LLC diligently adheres to.

We require the highest ethical standards possible from ourselves. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the estimate of the home would raise the fee. We don't do that. Other unethical practices may be defined by state law or professional societies 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," as well as other situations. We follow these rules to the letter which means you can be confident we are doing everything we can to objectively determine the home or property value.

With Owen Appraisal Service LLC, you won't have any doubts that you're receiving 100 percent ethical, professional service.