For honest and ethical appraisals, trust B&B Appraisal, Inc.

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we are bound by ethical considerations.

We have many responsibilities as appraisers but our main duty is to our clients. Most of the time, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to review the appraisal document, you normally have to get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at B&B Appraisal, Inc..

Appraisers can also have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty 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 standards 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 B&B Appraisal, Inc. takes very seriously.

We only perform to the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would invite appraisal fraud since raising the estimate of the home would raise the fee. We set ourselves to a higher standard. Other unethical 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 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 assured we are doing everything we can to objectively determine the home or property value.

When you engage B&B Appraisal, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.