For honest and ethical appraisals, count on Carol L Garcia, SRA

We consider our our job a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why 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 ethical considerations.

We have a great deal of obligations as appraisers but our main duty is to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like a copy of an appraisal report, you should request it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is standard operating procedure for us at Carol L Garcia, SRA.

Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Normally 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 things in the framework of the order.

Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - at Carol L Garcia, SRA you can rest assured that we stick to that rule.

We meet or beat the industry standards and guidelines set in place for ethics. We can't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would invite fraudulent practices since raising the value of the home would increase the their paycheck. We don't do that. Other unprofessional practices may be established 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 diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.

When you order an appraisal from Carol L Garcia, SRA 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.